ARROW FINANCIAL CORP — Director's Dealing 2020

Aug 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2020-07-31

Reporting Person: Murphy Thomas J. (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-31	Common Stock	M	2813	$22.97	Acquired	53642	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-31	Employee Stock Option (Right to Buy)	$22.97	M	2813	Disposed	2026-01-27	Common Stock (2813.0)	Direct

Footnotes

F1: The information provided reflects 918 shares acquired under the Company's DRIP and 911 shares related to the 2019 ESOP allocation since January 29, 2020 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.

F2: The options vest in four equal installments beginning January 27, 2017