SEC Form 4 · accession 0001127602-17-011994
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sally A Steele
Director
Period of report
Jan 6, 2017
Accepted (ET)
Mar 16, 2017 · 6:11 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 | Jan 6, 2017 | G | 868 | $0.00 | A | 50,496 | 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)F1 | — | Mar 15, 2017 | A | 553 | A | — | — | Common Stock | 553 | 2,280 | D |
| Phantom Stock (Deferred Compensation)F3,F2 | — | holding | — | — | — | — | — | Common Stock | 23,247 | 23,247 | 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 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 143.1979 units of phantom stock acquired on January 10, 2017 under the Deferred Compensation Plan's dividend reinvestment feature.