ARROW FINANCIAL CORP — Director's Dealing 2019

Aug 29, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2019-05-08

Reporting Person: Kaiser David D (SVP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-08	Common Stock	G	215	—	Disposed	11161	Direct
2019-08-22	Common Stock	G	4020	—	Disposed	7950	Direct
2019-08-22	Common Stock	G	4020	—	Acquired	4020	Indirect

Footnotes

F1: On August 22, 2019, 4,020 shares were gifted by the reporting person to the revocable Kaiser Family Trust.

F2: The information provided reflects an increase of 694 shares related to the 2018 ESOP allocation and 115 shares acquired under the Company's DRIP which were not required to be reported on a Form 4. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.

F3: On August 22, 2019, 4,020 shares were gifted by the reporting person to the revocable Kaiser Family Trust.