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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported):  May 27, 2016

ARROW FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)


 
 
 
New York
000-12507
22-2448962
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)



 
 
250 Glen Street
Glens Falls, NY
12801
(Address of principal executive offices)
(Zip Code)


(518) 745-1000
(Registrant's telephone number, including area code)





Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act.
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.





Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Change in compensation for CEO Murphy.  On May 27, 2016, the Compensation Committee of Arrow Financial Corporation (the “Company”) increased the annual base salary of Thomas J. Murphy, President and Chief Executive Officer of the Company and President and Chief Executive Officer of the Company’s lead subsidiary bank, Glens Falls National Bank and Trust Company from $332,000 to $400,000 effective July 1, 2016.
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


ARROW FINANCIAL CORPORATION

Dated: June 1, 2016    By:     /S/ Terry R. Goodemote                        
Terry R. Goodemote, Executive Vice President and Chief
Financial Officer