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ARROW FINANCIAL CORP Director's Dealing 2021

Jan 28, 2021

32888_dirs_2021-01-28_838a5b71-9e77-45fd-876a-e8b043de40a3.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2021-01-27

Reporting Person: Kaiser David D (SVP)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2021-01-27 Employee Stock Option (Right to Buy) $29.55 A 5000 Acquired 2031-01-27 Common Stock (5000.0) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 11852 Direct
Common Stock 3579 Indirect

Footnotes

F1: The information provided reflects 96 shares acquired under the Company's DRIP and 163 shares acquired via stock dividend since September 4, 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 information provided reflects 104 shares acquired via stock dividends since September 04, 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.

F3: The option vests in four equal annual installments beginning January 27, 2022