Item 5.03     Amendments to Articles of Incorporation or Bylaws; Change in
Fiscal Year.

Effective December 1, 2020, the Board of Directors of Arbor Realty Trust, Inc. (the "Company") approved and adopted the amended and restated bylaws of the Company (the "Revised Bylaws"). The Revised Bylaws include revisions to Article II, Section 7 of the Company's prior bylaws to adopt a majority voting standard in connection with the election of its directors, except in the case of contested elections, in which a plurality voting standard would be maintained. The Company's prior bylaws mandated a plurality voting standard for the election of its directors.

The foregoing description of the Revised Bylaws does not purport to be complete and is qualified in its entirety by reference to the full text of the Revised Bylaws, a copy of which is attached hereto as Exhibit 3.1 and incorporated herein by reference.




Item 9.01     Financial Statements and Exhibits.



(d)      Exhibits



Exhibit No.                                   Description
  3.1           Amended and Restated Bylaws of Arbor Realty Trust, Inc.
104           Cover Page Interactive Data File (embedded within the Inline XBRL document)

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