X0202 4 2006-02-08 0 0001253986 ARBOR REALTY TRUST INC ABR 0001029460 KOJAIAN C MICHAEL 333 EARLE OVINGTON BLVD. SUITE 900 UNIONDALE NY 11553 1 0 0 0 Common Stock par value $0.01 2006-02-08 4 A 0 1000 A 3000 D Common Stock par value $0.01 1000000 I By Kojaian Ventures, L.L.C. Restricted shares of common stock par value $0.01 per share of Arbor Realty Trust, Inc. (the "Company") granted pursuant to the Company's Amended and Restated 2003 Omnibus Stock Incentive Plan. Mr. Kojaian is the indirect beneficial owner of 1,000,000 shares of common stock of the Company held by Kojaian Ventures, L.L.C. The sole members of Kojaian Ventures, L.L.C. are Mr. Kojaian and Kojaian Ventures-MM, Inc. of which Mr. Kojaian is the sole stockholder. /s/ Walter K. Horn, Attorney-in-Fact for C. Michael Kojaian 2006-02-13