SEC Form 4 · accession 0001127602-17-027747
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
R Kallet Michael
Director
Period of report
Sep 18, 2017
Accepted (ET)
Sep 19, 2017 · 5:03 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 StockF1 | Sep 18, 2017 | S | 5,000 | $52.5453 | D | 16,603 | D | |
| Common Stock | holding | — | — | — | 66,803 | I | By Community Bank System, Inc. 401(k) Plan | |
| Common Stock | holding | — | — | — | 5,606 | I | By Trust under Will | |
| Common Stock | holding | — | — | — | 8,759 | I | By Wife | |
| Common Stock | holding | — | — | — | 1,988 | I | By IRA |
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 | 1,831 | 1,831 | 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 $52.5205 to $52.5796, 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 17.093 units of phantom stock acquired on July 10, 2017 under the Deferred Compensation Plan's dividend reinvestment feature.