SEC Form 4 · accession 0000723188-26-000112
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michele Sullivan
Director
Period of report
Sep 17, 2026
Accepted (ET)
Sep 18, 2026 · 9:24 am EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0000723188
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Stock (Deferred Compensation)F4,F3 | — | Sep 17, 2026 | A | 396 | A | — | — | Common Stock | 396 | 4,381 | D |
| Phantom Stock (Deferred Stock Units)F2,F1 | — | holding | — | — | — | — | — | Common Stock | 4,001 | 4,001 | D |
Explanation of responses
- F1The reporting person has received deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan, as amended (the "LTIP"). Each phantom stock unit which represents a deferred stock unit is the economic equivalent of one share of Community Financial System, Inc. common stock and will be settled in common stock at a predetermined date.
- F2Includes 27.9627 units of phantom stock acquired as dividend equivalents on July 10, 2026 under the LTIP.
- F3Each unit of phantom stock is the economic equivalent of one share of Community Financial System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan for Directors (the "DCP for Directors"), will be settled in Community Financial System, Inc. common stock at future dates selected by the reporting person.
- F4Includes 25.0107 units of phantom stock acquired on July 10, 2026 as dividend equivalents under the DCP for Directors.