SEC Form 4 · accession 0001127602-15-012084
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nicholas A Dicerbo
Director
Period of report
Mar 18, 2015
Accepted (ET)
Mar 19, 2015 · 4:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Stock (Deferred Stock Units)F1 | — | Mar 18, 2015 | A | 850 | A | — | — | Common Stock | 850 | 850 | D |
| Phantom Stock (Stock Balance Plan)F3,F2 | — | holding | — | — | — | — | — | Common Stock | 19,126 | 19,126 | D |
| Phantom Stock (Deferred Compensation)F5,F4 | — | holding | — | — | — | — | — | Common Stock | 50,402 | 50,402 | D |
Explanation of responses
- F1The reporting person has received deferred stock units under the Community Bank System, Inc. 2014 Long-Term Incentive Plan. Each phantom stock unit which represents a deferred stock unit is the economic equivalent of one share of Community Bank System, Inc. common stock and will be settled in common stock at a predetermined date.
- F2Each phantom stock unit is the economic equivalent of one share of Community Bank System, Inc. common stock. Phantom Stock (Stock Balance Plan) may be settled upon the later of the reporting person's attainment of age 55 or termination of service on Community Bank System, Inc.'s Board of Directors.
- F3Includes 564.68 units of phantom stock acquired in 2014 under the Stock Balance Plan's dividend reinvestment feature.
- F4Each unit of phantom stock is the economic equivalent of one share of Community Bank System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.
- F5Includes 414.9537 units of phantom stock acquired on January 9, 2015 under the Deferred Compensation Plan's dividend reinvestment feature.