SEC Form 4 · accession 0001127602-17-021349
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward S. Mucenski
Director
Period of report
Jun 12, 2017
Accepted (ET)
Jun 13, 2017 · 5:21 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 | Jun 12, 2017 | M | 850 | $27.36 | A | 3,186 | D | |
| Common Stock | Jun 12, 2017 | M | 2,150 | $28.78 | A | 5,336 | D | |
| Common StockF1 | Jun 12, 2017 | S | 3,000 | $57.9612 | D | 2,336 | D | |
| Common Stock | holding | — | — | — | 7,483 | I | By PMHV 401(k) Plan | |
| Common Stock | holding | — | — | — | 1,526 | 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 | $27.36 | Jun 12, 2017 | M | 850 | D | Jan 19, 2011 | Jan 19, 2021 | Common Stock | 850 | 0 | D |
| Stock Option | $28.78 | Jun 12, 2017 | M | 2,150 | D | Mar 21, 2012 | Mar 21, 2022 | Common Stock | 2,150 | 2,416 | D |
| Phantom Stock (Deferred Compensation)F3,F2 | — | holding | — | — | — | — | — | Common Stock | 9,052 | 9,052 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.925 to $57.99, inclusive. The reporting person undertakes to provide Community Bank System, Inc., any security holder of Community Bank System, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- 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 66.8622 units of phantom stock acquired on April 10, 2017 under the Deferred Compensation Plan's dividend reinvestment feature.