SEC Form 4 · accession 0001127602-16-058710
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian R Ace
Director
Period of report
Jul 26, 2016
Accepted (ET)
Jul 27, 2016 · 4:06 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 Stock | Jul 26, 2016 | M | 3,817 | $22.94 | A | 50,275 | D | |
| Common Stock | Jul 26, 2016 | S | 3,817 | $43.40 | D | 46,458 | D | |
| Common Stock | holding | — | — | — | 130 | I | By Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option | $22.94 | Jul 26, 2016 | M | 3,817 | D | Jan 17, 2007 | Jan 17, 2017 | Common Stock | 3,817 | 0 | D |
| Phantom Stock (Deferred Compensation)F2,F1 | — | holding | — | — | — | — | — | Common Stock | 23,124 | 23,124 | D |
Explanation of responses
- F1Each 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.
- F2Includes 195.3299 and 182.7804 units acquired on April 11, 2016 and July 11, 2016 respectively, pursuant to the Deferred Compensation Plan's dividend reinvestment feature.