ARROW FINANCIAL CORP — Director's Dealing 2021

Jan 14, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2020-10-07

Reporting Person: HOY THOMAS L (Director, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-10-07	Common Stock	G	1000	—	Disposed	198980	Direct
2020-10-26	Common Stock	G	175	—	Disposed	198805	Direct
2020-12-03	Common Stock	G	675	—	Disposed	198130	Direct
2021-01-13	Common Stock	J	282	$30.98	Acquired	198412	Direct
2020-10-07	Common Stock	G	500	—	Disposed	5521	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3024	Indirect

Footnotes

F1: The information provided reflects 5823 shares acquired via a stock dividend since July 31, 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: Quarterly Director's Retainer payment. Shares acquired by the Administrator of the Director's Stock Plan.

F3: The information provided reflects 175 shares acquired via a stock dividend since July 31,2020 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.

F4: The information provided reflects 88 shares acquired via a stock dividend since July 31,2020 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.