SEC Form 4 · accession 0001127602-18-012578
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Parente
Director
Period of report
Mar 20, 2018
Accepted (ET)
Mar 22, 2018 · 6:47 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 | holding | — | — | — | 63,947 | D | ||
| Common StockF2 | holding | — | — | — | 10,000 | I | By son, John K. Parente Trust U/A 6/15/96 | |
| Common StockF2 | holding | — | — | — | 10,000 | I | By son, Louis C. Parente Trust U/A 3/29/01 | |
| Common StockF2 | holding | — | — | — | 10,000 | I | By son, Samuel M. Parente Trust U/A 6/16/98 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option | $55.92 | Mar 20, 2018 | A | 2,559 | A | Mar 20, 2018 | Mar 20, 2028 | Common Stock | 2,559 | 2,559 | D |
Explanation of responses
- F1The reporting person has transferred his authority with respect to the 17,336 shares of Community Bank System, Inc. common stock held in the Charles E. Parente Revocable Trust and is no longer deemed the beneficial owner of such shares.
- F2The trust was established for the benefit of the reporting person's child and the reporting person does not have investment discretion nor a pecuniary interest in the shares held by the trust. The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.