ARROW FINANCIAL CORP — Director's Dealing 2022

Jan 27, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2022-01-26

Reporting Person: HOY THOMAS L (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-01-26	Director Stock Option (Right to Buy)	$35.83	A	1000	Acquired	2032-01-26	Common Stock (1000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	203117	Direct
Common Stock	5686	Indirect
Common Stock	3114	Indirect

Footnotes

F1: The options vests in four equal installments beginning January 26, 2023