SEC Form 4 · accession 0001127602-18-012583
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
Dec 21, 2017
Accepted (ET)
Mar 22, 2018 · 6:57 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 | Dec 21, 2017 | W | 5,366 | $0.00 | A | 9,469 | D | |
| Common StockF1 | holding | — | — | — | 68,404 | 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 Stock Units)F2 | — | Mar 20, 2018 | A | 611 | A | — | — | Common Stock | 611 | 2,041 | D |
| Phantom Stock (Deferred Compensation)F4,F3 | — | holding | — | — | — | — | — | Common Stock | 2,400 | 2,400 | D |
Explanation of responses
- F1The number of shares reported herein were acquired pursuant to the Community Bank System, Inc. 401(K) Plan and are based on a current plan statement.
- F2The 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.
- F3Each 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.
- F4Includes 22.0809 units of phantom stock acquired on January 10, 2018 under the Deferred Compensation Plan's dividend reinvestment feature.