ARBOR COMMERCIAL MORTGAGE LLC

SEC source: 0001104659-25-019154 · tm257850-1_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,483,930

Underlying: Common Stock, par value $0.01 per share · 113,636 shares

Expires not disclosed

F1 · derivative.exercise_price: On February 26, 2025 Arbor Commercial Mortgage, LLC ("ACM") distributed 113,636 Partnership Common Units and Special Voting Preferred Stock valued at approximately $1,500,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. from February 11, 2025 through February 25, 2025, of $13.20 per share.

F1 · kind: On February 26, 2025 Arbor Commercial Mortgage, LLC ("ACM") distributed 113,636 Partnership Common Units and Special Voting Preferred Stock valued at approximately $1,500,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. from February 11, 2025 through February 25, 2025, of $13.20 per share.

F1 · price: On February 26, 2025 Arbor Commercial Mortgage, LLC ("ACM") distributed 113,636 Partnership Common Units and Special Voting Preferred Stock valued at approximately $1,500,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. from February 11, 2025 through February 25, 2025, of $13.20 per share.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-25-019154 · tm257850-1_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,483,930

F1 · kind: On February 26, 2025 Arbor Commercial Mortgage, LLC ("ACM") distributed 113,636 Partnership Common Units and Special Voting Preferred Stock valued at approximately $1,500,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. from February 11, 2025 through February 25, 2025, of $13.20 per share.

F1 · price: On February 26, 2025 Arbor Commercial Mortgage, LLC ("ACM") distributed 113,636 Partnership Common Units and Special Voting Preferred Stock valued at approximately $1,500,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. from February 11, 2025 through February 25, 2025, of $13.20 per share.

SEC source: 0001104659-24-077373 · tm2418745-2_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,597,566

Underlying: Common Stock, par value $0.01 per share · 17,519 shares

Expires not disclosed

F1 · derivative.exercise_price: On June 30, 2024 Arbor Commercial Mortgage, LLC ("ACM") distributed 17,519 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") valued at approximately $250,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from June 26, 2024 through June 28, 2024, of $14.27 per share.

F1 · kind: On June 30, 2024 Arbor Commercial Mortgage, LLC ("ACM") distributed 17,519 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") valued at approximately $250,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from June 26, 2024 through June 28, 2024, of $14.27 per share.

F1 · price: On June 30, 2024 Arbor Commercial Mortgage, LLC ("ACM") distributed 17,519 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") valued at approximately $250,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from June 26, 2024 through June 28, 2024, of $14.27 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-24-077373 · tm2418745-2_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,597,566

F1 · kind: On June 30, 2024 Arbor Commercial Mortgage, LLC ("ACM") distributed 17,519 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") valued at approximately $250,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from June 26, 2024 through June 28, 2024, of $14.27 per share.

F1 · price: On June 30, 2024 Arbor Commercial Mortgage, LLC ("ACM") distributed 17,519 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") valued at approximately $250,000 to one of its members for a portion of the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from June 26, 2024 through June 28, 2024, of $14.27 per share.

SEC source: 0001104659-23-000435 · tm231416-2_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,615,085

Underlying: Common Stock, par value $0.01 per share · 18,939 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 31, 2022 ACM distributed 18,939 OP Units and Preferred Shares valued at $250,000 to one of its members for the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 28, 2022 through December 30, 2022, of $13.20 per share.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 31, 2022 ACM distributed 18,939 OP Units and Preferred Shares valued at $250,000 to one of its members for the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 28, 2022 through December 30, 2022, of $13.20 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 31, 2022 ACM distributed 18,939 OP Units and Preferred Shares valued at $250,000 to one of its members for the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 28, 2022 through December 30, 2022, of $13.20 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-23-000435 · tm231416-2_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,615,085

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 31, 2022 ACM distributed 18,939 OP Units and Preferred Shares valued at $250,000 to one of its members for the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 28, 2022 through December 30, 2022, of $13.20 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 31, 2022 ACM distributed 18,939 OP Units and Preferred Shares valued at $250,000 to one of its members for the member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 28, 2022 through December 30, 2022, of $13.20 per share.

SEC source: 0001104659-22-058317 · tm2215081-2_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,634,024

Underlying: Common Stock, par value $0.01 per share · 31,506 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On May 9, 2022, ACM distributed 31,506 OP Units and Preferred Shares valued at $548,534 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 4, 2022 through May 6, 2022, of $17.41 per share.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On May 9, 2022, ACM distributed 31,506 OP Units and Preferred Shares valued at $548,534 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 4, 2022 through May 6, 2022, of $17.41 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On May 9, 2022, ACM distributed 31,506 OP Units and Preferred Shares valued at $548,534 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 4, 2022 through May 6, 2022, of $17.41 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-22-058317 · tm2215081-2_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,634,024

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On May 9, 2022, ACM distributed 31,506 OP Units and Preferred Shares valued at $548,534 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 4, 2022 through May 6, 2022, of $17.41 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On May 9, 2022, ACM distributed 31,506 OP Units and Preferred Shares valued at $548,534 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 4, 2022 through May 6, 2022, of $17.41 per share.

SEC source: 0001104659-21-140072 · tm2133116-4_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,535,870

F1 · kind: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its November 4, 2021 public offering of 7,500,000 shares of common stock (the "Offering") to purchase an aggregate of 292,759 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $19.48 per share, which is the same price at which the underwriters purchased the shares in the Offering.

F2 · balance_after: Mr. Kaufman disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

SEC source: 0001104659-21-122096 · tm2127356-2_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,665,530

Underlying: Common Stock, par value $0.01 per share · 27,138 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 29,2021, ACM distributed 27,138 OP Units and Preferred Shares valued at $499,882 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from September 24,2021 through September 28,2021, of $18.42 per share.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 29,2021, ACM distributed 27,138 OP Units and Preferred Shares valued at $499,882 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from September 24,2021 through September 28,2021, of $18.42 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 29,2021, ACM distributed 27,138 OP Units and Preferred Shares valued at $499,882 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from September 24,2021 through September 28,2021, of $18.42 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-21-122096 · tm2127356-2_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,665,530

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 29,2021, ACM distributed 27,138 OP Units and Preferred Shares valued at $499,882 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from September 24,2021 through September 28,2021, of $18.42 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 29,2021, ACM distributed 27,138 OP Units and Preferred Shares valued at $499,882 to one of its members for the member's remaining membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from September 24,2021 through September 28,2021, of $18.42 per share.

SEC source: 0001104659-21-083554 · tm2120074-2_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,828,629

F1 · kind: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its June 17, 2021 public offering of 6,000,000 shares of common stock (the "Offering") to purchase 600,000 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $18.46 per share, which is the same price at which the underwriters purchased the shares in the Offering.

F1 · price: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its June 17, 2021 public offering of 6,000,000 shares of common stock (the "Offering") to purchase 600,000 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $18.46 per share, which is the same price at which the underwriters purchased the shares in the Offering.

SEC source: 0001104659-21-073321 · tm2117678-1_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,692,668

Underlying: Common Stock, par value $0.01 per share · 18,400 shares

Expires not disclosed

F1 · derivative.exercise_price: On May 25, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 18,400 Partnership Common Units and Special Voting Preferred Stock with a fair value of approximately $321.1 thousand to one of its members in consideration for the liquidation of their membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 20, 2021 through May 24, 2021 of $17.45 per share.

F1 · kind: On May 25, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 18,400 Partnership Common Units and Special Voting Preferred Stock with a fair value of approximately $321.1 thousand to one of its members in consideration for the liquidation of their membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 20, 2021 through May 24, 2021 of $17.45 per share.

F1 · price: On May 25, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 18,400 Partnership Common Units and Special Voting Preferred Stock with a fair value of approximately $321.1 thousand to one of its members in consideration for the liquidation of their membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 20, 2021 through May 24, 2021 of $17.45 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-21-073321 · tm2117678-1_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,692,668

F1 · kind: On May 25, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 18,400 Partnership Common Units and Special Voting Preferred Stock with a fair value of approximately $321.1 thousand to one of its members in consideration for the liquidation of their membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 20, 2021 through May 24, 2021 of $17.45 per share.

F1 · price: On May 25, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 18,400 Partnership Common Units and Special Voting Preferred Stock with a fair value of approximately $321.1 thousand to one of its members in consideration for the liquidation of their membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 20, 2021 through May 24, 2021 of $17.45 per share.

SEC source: 0001104659-21-071938 · tm2117385-1_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,711,068

Underlying: Common Stock, par value $0.01 per share · 1,190,000 shares

Expires not disclosed

F1 · derivative.exercise_price: On May 24, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 1,190,000 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") with a fair market value of approximately $20.9 million to Lisa Kaufman in consideration of the liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. (the "Company") from May 19, 2021 through May 21, 2021 of $17.55 per share.

F1 · kind: On May 24, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 1,190,000 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") with a fair market value of approximately $20.9 million to Lisa Kaufman in consideration of the liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. (the "Company") from May 19, 2021 through May 21, 2021 of $17.55 per share.

F1 · price: On May 24, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 1,190,000 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") with a fair market value of approximately $20.9 million to Lisa Kaufman in consideration of the liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. (the "Company") from May 19, 2021 through May 21, 2021 of $17.55 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-21-071938 · tm2117385-1_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,711,068

F1 · kind: On May 24, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 1,190,000 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") with a fair market value of approximately $20.9 million to Lisa Kaufman in consideration of the liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. (the "Company") from May 19, 2021 through May 21, 2021 of $17.55 per share.

F1 · price: On May 24, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 1,190,000 Partnership Common Units ("OP Units") and Special Voting Preferred Stock ("Preferred Shares") with a fair market value of approximately $20.9 million to Lisa Kaufman in consideration of the liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of Arbor Realty Trust, Inc. (the "Company") from May 19, 2021 through May 21, 2021 of $17.55 per share.

SEC source: 0001104659-21-054534 · tm2113883-5_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,428,629

F1 · kind: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its March 30, 2021 public offering of 7,000,000 shares of common stock (the "Offering") to purchase an aggregate of 99,454 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $15.48 per share, which is the same price at which the underwriters purchased the shares in the Offering.

SEC source: 0001104659-20-136404 · tm2038605-1_4seq1.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,901,068

Underlying: Common Stock, par value $0.01 per share · 31,139 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 15, 2020, ACM distributed 31,139 OP Units and Preferred Shares valued at $440,000 to one of its members for a portion of such member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 10, 2020 through December 14, 2020 of $14.13 per share.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 15, 2020, ACM distributed 31,139 OP Units and Preferred Shares valued at $440,000 to one of its members for a portion of such member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 10, 2020 through December 14, 2020 of $14.13 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 15, 2020, ACM distributed 31,139 OP Units and Preferred Shares valued at $440,000 to one of its members for a portion of such member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 10, 2020 through December 14, 2020 of $14.13 per share.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-20-136404 · tm2038605-1_4seq1.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,901,068

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 15, 2020, ACM distributed 31,139 OP Units and Preferred Shares valued at $440,000 to one of its members for a portion of such member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 10, 2020 through December 14, 2020 of $14.13 per share.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On December 15, 2020, ACM distributed 31,139 OP Units and Preferred Shares valued at $440,000 to one of its members for a portion of such member's membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from December 10, 2020 through December 14, 2020 of $14.13 per share.

SEC source: 0001104659-20-132492 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,528,083

F1 · kind: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its November 13, 2020 public offering of 7,000,000 shares of common stock (the "Offering") to purchase 370,471 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $13.30 per share, which is the same price at which the underwriters purchased the shares in the Offering.

F1 · price: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its November 13, 2020 public offering of 7,000,000 shares of common stock (the "Offering") to purchase 370,471 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $13.30 per share, which is the same price at which the underwriters purchased the shares in the Offering.

SEC source: 0001104659-20-106597 · a4.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,932,207

Underlying: Common Stock, par value $0.01 per share · 336,894 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 18, 2020, ACM distributed 336,894 OP Units and Preferred Shares valued at $4,100,000 to one of its members for all of such member's membership interest in ACM. The value was determined using the Company's closing stock price on September 17, 2020 of $12.17.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 18, 2020, ACM distributed 336,894 OP Units and Preferred Shares valued at $4,100,000 to one of its members for all of such member's membership interest in ACM. The value was determined using the Company's closing stock price on September 17, 2020 of $12.17.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 18, 2020, ACM distributed 336,894 OP Units and Preferred Shares valued at $4,100,000 to one of its members for all of such member's membership interest in ACM. The value was determined using the Company's closing stock price on September 17, 2020 of $12.17.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-20-106597 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,932,207

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 18, 2020, ACM distributed 336,894 OP Units and Preferred Shares valued at $4,100,000 to one of its members for all of such member's membership interest in ACM. The value was determined using the Company's closing stock price on September 17, 2020 of $12.17.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On September 18, 2020, ACM distributed 336,894 OP Units and Preferred Shares valued at $4,100,000 to one of its members for all of such member's membership interest in ACM. The value was determined using the Company's closing stock price on September 17, 2020 of $12.17.

SEC source: 0001104659-20-092059 · a4.xml · derivative · entry 4

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,269,101

Underlying: Common Stock, par value $0.01 per share · 1,400,000 shares

Expires not disclosed

F2 · derivative.exercise_price: On August 7, 2020, ACM distributed 1,400,000 OP Units and Preferred Shares with a fair market value of approximately $15.3 million to Lisa Kaufman in consideration of a partial liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from August 5, 2020 through August 7, 2020 of $10.93 per share.

F2 · kind: On August 7, 2020, ACM distributed 1,400,000 OP Units and Preferred Shares with a fair market value of approximately $15.3 million to Lisa Kaufman in consideration of a partial liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from August 5, 2020 through August 7, 2020 of $10.93 per share.

F2 · price: On August 7, 2020, ACM distributed 1,400,000 OP Units and Preferred Shares with a fair market value of approximately $15.3 million to Lisa Kaufman in consideration of a partial liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from August 5, 2020 through August 7, 2020 of $10.93 per share.

F3 · derivative.exercise_date: Not applicable.

F3 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-20-092059 · a4.xml · nonDerivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,269,101

F2 · kind: On August 7, 2020, ACM distributed 1,400,000 OP Units and Preferred Shares with a fair market value of approximately $15.3 million to Lisa Kaufman in consideration of a partial liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from August 5, 2020 through August 7, 2020 of $10.93 per share.

F2 · price: On August 7, 2020, ACM distributed 1,400,000 OP Units and Preferred Shares with a fair market value of approximately $15.3 million to Lisa Kaufman in consideration of a partial liquidation of her membership interest in ACM, such liquidation made in accordance with the terms of a post-nuptial agreement between Mr. and Mrs. Kaufman. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from August 5, 2020 through August 7, 2020 of $10.93 per share.

SEC source: 0001104659-20-092059 · a4.xml · derivative · entry 3

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,669,101

Underlying: Common Stock, par value $0.01 per share · 1,000,000 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On August 5, 2020, ACM distributed 1,000,000 OP Units and Preferred Shares valued at $9,000,000 to one of its members for a portion of such member's membership interest in ACM. The value was determined using a stock price of $9.00 per share in accordance with an agreement between ACM and the member.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On August 5, 2020, ACM distributed 1,000,000 OP Units and Preferred Shares valued at $9,000,000 to one of its members for a portion of such member's membership interest in ACM. The value was determined using a stock price of $9.00 per share in accordance with an agreement between ACM and the member.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On August 5, 2020, ACM distributed 1,000,000 OP Units and Preferred Shares valued at $9,000,000 to one of its members for a portion of such member's membership interest in ACM. The value was determined using a stock price of $9.00 per share in accordance with an agreement between ACM and the member.

F3 · derivative.exercise_date: Not applicable.

F3 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-20-092059 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,669,101

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On August 5, 2020, ACM distributed 1,000,000 OP Units and Preferred Shares valued at $9,000,000 to one of its members for a portion of such member's membership interest in ACM. The value was determined using a stock price of $9.00 per share in accordance with an agreement between ACM and the member.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, in connection therewith, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On August 5, 2020, ACM distributed 1,000,000 OP Units and Preferred Shares valued at $9,000,000 to one of its members for a portion of such member's membership interest in ACM. The value was determined using a stock price of $9.00 per share in accordance with an agreement between ACM and the member.

SEC source: 0001104659-20-022001 · a4.xml · derivative · entry 3

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,669,101

Underlying: Common Stock, par value $0.01 per share · 16,628 shares

Expires not disclosed

F3 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to ACM and, therefore, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On February 14, 2020, ACM distributed 16,628 OP Units and Preferred Shares with a fair market value of approximately $250,000 to one of its partners for a portion of his respective membership interest. The fair market value was determined using the average closing stock price of the Company from January 31, 2020 to February 13, 2020 of $15.04.

F3 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to ACM and, therefore, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On February 14, 2020, ACM distributed 16,628 OP Units and Preferred Shares with a fair market value of approximately $250,000 to one of its partners for a portion of his respective membership interest. The fair market value was determined using the average closing stock price of the Company from January 31, 2020 to February 13, 2020 of $15.04.

F3 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to ACM and, therefore, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On February 14, 2020, ACM distributed 16,628 OP Units and Preferred Shares with a fair market value of approximately $250,000 to one of its partners for a portion of his respective membership interest. The fair market value was determined using the average closing stock price of the Company from January 31, 2020 to February 13, 2020 of $15.04.

F2 · derivative.exercise_date: Not applicable.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-20-022001 · a4.xml · nonDerivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,669,101

F3 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to ACM and, therefore, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On February 14, 2020, ACM distributed 16,628 OP Units and Preferred Shares with a fair market value of approximately $250,000 to one of its partners for a portion of his respective membership interest. The fair market value was determined using the average closing stock price of the Company from January 31, 2020 to February 13, 2020 of $15.04.

F3 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to ACM and, therefore, the Company issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On February 14, 2020, ACM distributed 16,628 OP Units and Preferred Shares with a fair market value of approximately $250,000 to one of its partners for a portion of his respective membership interest. The fair market value was determined using the average closing stock price of the Company from January 31, 2020 to February 13, 2020 of $15.04.

SEC source: 0001104659-20-022001 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,898,554

F1 · kind: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its December 12, 2019 public offering of 7,475,000 shares of common stock (the "Offering") to purchase 387,140 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC ("ACM") for $13.93 per share, which is the same price at which the underwriters purchased the shares in the Offering.

F1 · price: As previously agreed to, Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its December 12, 2019 public offering of 7,475,000 shares of common stock (the "Offering") to purchase 387,140 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC ("ACM") for $13.93 per share, which is the same price at which the underwriters purchased the shares in the Offering.

SEC source: 0001104659-19-034846 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,285,694

F1 · kind: Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its May 20, 2019 public offering of 9,200,000 shares of common stock (the "Offering") to purchase an aggregate of 709,042 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $12.58 per share, which is the same price at which the underwriters purchased the shares in the Offering.

F1 · price: Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its May 20, 2019 public offering of 9,200,000 shares of common stock (the "Offering") to purchase an aggregate of 709,042 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $12.58 per share, which is the same price at which the underwriters purchased the shares in the Offering.

SEC source: 0001104659-19-014360 · a4.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,772,918

Underlying: Common Stock, par value $0.01 per share · 126,282 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On March 8, 2019, ACM distributed 126,282 OP Units and Preferred Shares with a fair market value of approximately $1.6 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on March 8, 2019 of $12.67. In addition, the Company redeemed such distributed shares for cash totaling approximately $1.6 million, which was based on the same $12.67 fair value described above.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On March 8, 2019, ACM distributed 126,282 OP Units and Preferred Shares with a fair market value of approximately $1.6 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on March 8, 2019 of $12.67. In addition, the Company redeemed such distributed shares for cash totaling approximately $1.6 million, which was based on the same $12.67 fair value described above.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On March 8, 2019, ACM distributed 126,282 OP Units and Preferred Shares with a fair market value of approximately $1.6 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on March 8, 2019 of $12.67. In addition, the Company redeemed such distributed shares for cash totaling approximately $1.6 million, which was based on the same $12.67 fair value described above.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-19-014360 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,772,918

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On March 8, 2019, ACM distributed 126,282 OP Units and Preferred Shares with a fair market value of approximately $1.6 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on March 8, 2019 of $12.67. In addition, the Company redeemed such distributed shares for cash totaling approximately $1.6 million, which was based on the same $12.67 fair value described above.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On March 8, 2019, ACM distributed 126,282 OP Units and Preferred Shares with a fair market value of approximately $1.6 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on March 8, 2019 of $12.67. In addition, the Company redeemed such distributed shares for cash totaling approximately $1.6 million, which was based on the same $12.67 fair value described above.

SEC source: 0001104659-19-002764 · a4.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,739,559

Underlying: Common Stock, par value $0.01 per share · 133,677 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On January 17, 2019, ACM distributed 133,677 OP Units and Preferred Shares with a fair market value of approximately $1.5 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on January 16, 2019 of $11.35.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On January 17, 2019, ACM distributed 133,677 OP Units and Preferred Shares with a fair market value of approximately $1.5 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on January 16, 2019 of $11.35.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On January 17, 2019, ACM distributed 133,677 OP Units and Preferred Shares with a fair market value of approximately $1.5 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on January 16, 2019 of $11.35.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-19-002764 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,739,559

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On January 17, 2019, ACM distributed 133,677 OP Units and Preferred Shares with a fair market value of approximately $1.5 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on January 16, 2019 of $11.35.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On January 17, 2019, ACM distributed 133,677 OP Units and Preferred Shares with a fair market value of approximately $1.5 million to one of its partners in consideration for the respective membership interest. The fair market value was determined using the closing stock price of the Company on January 16, 2019 of $11.35.

SEC source: 0001104659-18-071735 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,945,837

F1 · kind: Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its December 4, 2018 public offering of 8,700,000 shares of common stock (the "Offering") to purchase an aggregate of 403,216 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $11.57 per share, which is the same price at which the underwriters purchased the shares in the Offering.

F1 · price: Arbor Realty Trust, Inc. (the "Company") used a portion of the net proceeds received from its December 4, 2018 public offering of 8,700,000 shares of common stock (the "Offering") to purchase an aggregate of 403,216 shares of the Company's common stock held by Arbor Commercial Mortgage, LLC for $11.57 per share, which is the same price at which the underwriters purchased the shares in the Offering.

SEC source: 0001104659-18-054828 · a4.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,873,236

Underlying: Common Stock, par value $0.01 per share · 577,185 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On August 29, 2018, ACM distributed 577,185 OP Units and Preferred Shares with a fair market value of approximately $6.8 million to two of its partners in consideration for their respective membership interests. The fair market value was determined using the average closing stock price of the Company from August 16, 2018 through August 29, 2018 of $11.86.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On August 29, 2018, ACM distributed 577,185 OP Units and Preferred Shares with a fair market value of approximately $6.8 million to two of its partners in consideration for their respective membership interests. The fair market value was determined using the average closing stock price of the Company from August 16, 2018 through August 29, 2018 of $11.86.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On August 29, 2018, ACM distributed 577,185 OP Units and Preferred Shares with a fair market value of approximately $6.8 million to two of its partners in consideration for their respective membership interests. The fair market value was determined using the average closing stock price of the Company from August 16, 2018 through August 29, 2018 of $11.86.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-18-054828 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,873,236

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On August 29, 2018, ACM distributed 577,185 OP Units and Preferred Shares with a fair market value of approximately $6.8 million to two of its partners in consideration for their respective membership interests. The fair market value was determined using the average closing stock price of the Company from August 16, 2018 through August 29, 2018 of $11.86.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units (''OP Units'') to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock (''Preferred Shares'') to ACM. On August 29, 2018, ACM distributed 577,185 OP Units and Preferred Shares with a fair market value of approximately $6.8 million to two of its partners in consideration for their respective membership interests. The fair market value was determined using the average closing stock price of the Company from August 16, 2018 through August 29, 2018 of $11.86.

SEC source: 0001104659-17-075041 · a4.xml · derivative · entry 2

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,450,421

Underlying: Common Stock, par value $0.01 per share · 5,780,348 shares

Expires not disclosed

F1 · derivative.exercise_price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership ("ARLP") issued 21,230,769 Partnership Common Units to Arbor Commercial Mortgage, LLC ("ACM") and therefore, Arbor Realty Trust, Inc. (the "Company") issued the same number of shares of Special Voting Preferred Stock to ACM. On December 26, 2017, for no consideration and on a pro rata basis, ACM distributed 5,780,348 shares with a fair market value of approximately $50.0 million to its partners. The fair market value was determined using the closing stock price of the Company on December 20, 2017 of $8.65.

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership ("ARLP") issued 21,230,769 Partnership Common Units to Arbor Commercial Mortgage, LLC ("ACM") and therefore, Arbor Realty Trust, Inc. (the "Company") issued the same number of shares of Special Voting Preferred Stock to ACM. On December 26, 2017, for no consideration and on a pro rata basis, ACM distributed 5,780,348 shares with a fair market value of approximately $50.0 million to its partners. The fair market value was determined using the closing stock price of the Company on December 20, 2017 of $8.65.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership ("ARLP") issued 21,230,769 Partnership Common Units to Arbor Commercial Mortgage, LLC ("ACM") and therefore, Arbor Realty Trust, Inc. (the "Company") issued the same number of shares of Special Voting Preferred Stock to ACM. On December 26, 2017, for no consideration and on a pro rata basis, ACM distributed 5,780,348 shares with a fair market value of approximately $50.0 million to its partners. The fair market value was determined using the closing stock price of the Company on December 20, 2017 of $8.65.

F2 · derivative.expiration_date: Not applicable.

SEC source: 0001104659-17-075041 · a4.xml · nonDerivative · entry 1

ARBOR COMMERCIAL MORTGAGE LLC · CIK 0001285910 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,450,421

F1 · kind: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership ("ARLP") issued 21,230,769 Partnership Common Units to Arbor Commercial Mortgage, LLC ("ACM") and therefore, Arbor Realty Trust, Inc. (the "Company") issued the same number of shares of Special Voting Preferred Stock to ACM. On December 26, 2017, for no consideration and on a pro rata basis, ACM distributed 5,780,348 shares with a fair market value of approximately $50.0 million to its partners. The fair market value was determined using the closing stock price of the Company on December 20, 2017 of $8.65.

F1 · price: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership ("ARLP") issued 21,230,769 Partnership Common Units to Arbor Commercial Mortgage, LLC ("ACM") and therefore, Arbor Realty Trust, Inc. (the "Company") issued the same number of shares of Special Voting Preferred Stock to ACM. On December 26, 2017, for no consideration and on a pro rata basis, ACM distributed 5,780,348 shares with a fair market value of approximately $50.0 million to its partners. The fair market value was determined using the closing stock price of the Company on December 20, 2017 of $8.65.