SEC Form 4 · accession 0001127602-17-000235
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
Jan 2, 2017
Accepted (ET)
Jan 3, 2017 · 4:37 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 | Jan 2, 2017 | M | 3,012 | — | A | 49,470 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Stock (Deferred Compensation)F1,F3,F2 | — | Jan 2, 2017 | M | 3,012 | D | — | — | Common Stock | 3,012 | 20,275 | D |
Explanation of responses
- F1On January 2, 2017, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.
- 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 163.4007 units of phantom stock acquired on October 10, 2016 under the Deferred Compensation Plan's dividend reinvestment feature.