SEC Form 4 · accession 0001127602-16-046924
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Neil E. Fesette
Director
Period of report
Mar 16, 2016
Accepted (ET)
Mar 18, 2016 · 2:57 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000723188
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 105 | D |
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)F2 | — | Mar 16, 2016 | A | 877 | A | — | — | Common Stock | 877 | 1,727 | D |
| Phantom Stock (Deferred Compensation)F4,F3 | — | Mar 17, 2016 | A | 196 | A | — | — | Common Stock | 196 | 8,454 | D |
Explanation of responses
- F1Includes 0.868, 0.794, 0.829 and 0.853 units acquired on April 10, 2015, July 10, 2015, October 9, 2015, and January 11, 2016 respectively, pursuant to the Deferred Compensation Plan's dividend reinvestment feature.
- F2The 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.
- F3Each 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.
- F4Includes 72.6901 units of phantom stock acquired on January 11, 2016 under the Deferred Compensation Plan's dividend reinvestment feature.