SEC Form 4 · accession 0001127602-17-012165

COMMUNITY FINANCIAL SYSTEM, INC. · CBU

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Mar 15, 2017

Accepted (ET)

Mar 17, 2017 · 3:48 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^F1	holding	—	—		—	50,190	D
Common Stock^F2	holding	—	—		—	134	I	By Spouse

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Phantom Stock (Deferred Stock Units)^F3	—	Mar 15, 2017	A	553	A	—	—	Common Stock	553	2,280	D
Phantom Stock (Deferred Compensation)^F5,F4	—	holding	—	—	—	—	—	Common Stock	20,409	20,409	D

F1Includes 720 shares acquired under the Community Bank System, Inc. Dividend Reinvestment Plan.
F2Includes four shares acquired under the Community Bank System, Inc. Dividend Reinvestment Plan.
F3The 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.
F4Each 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.
F5Includes 133.4322 units of phantom stock acquired on January 10, 2017 under the Deferred Compensation Plan's dividend reinvestment feature.