SEC Form 4 · accession 0001127602-16-067009
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
Nov 2, 2016
Accepted (ET)
Nov 14, 2016 · 5:45 pm EST
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 | Nov 2, 2016 | G | 60 | $0.00 | D | 200,544 | D | |
| Common Stock | Nov 10, 2016 | S | 5,000 | $50.75 | D | 195,544 | D | |
| Common Stock | Nov 11, 2016 | G | 53 | $0.00 | D | 195,491 | 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 Compensation)F3,F2 | — | holding | — | — | — | — | — | Common Stock | 53,272 | 53,272 | D |
Explanation of responses
- F1Includes 909.488 and 773.3638 shares acquired on July 11, 2016 and October 10, 2016, respectively, pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.
- F2Each 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.
- F3Includes 353.5221 units of phantom stock acquired on October 10, 2016 under the Deferred Compensation Plan's dividend reinvestment feature.