SEC Form 4 · accession 0001127602-18-012598
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raymond C Pecor III
Director
Period of report
Mar 20, 2018
Accepted (ET)
Mar 22, 2018 · 7:41 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 | — | — | — | 5,837 | D | ||
| Common StockF2 | holding | — | — | — | 6,392 | I | By Trust |
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)F3 | — | Mar 20, 2018 | A | 611 | A | — | — | Common Stock | 611 | 611 | D |
| Phantom Stock (Deferred Compensation)F5,F4 | — | holding | — | — | — | — | — | Common Stock | 8,006 | 8,006 | D |
Explanation of responses
- F1Includes 31.239, 34.988, and 35.877 shares acquired on July 10, 2017, October 10, 2017, and January 10, 2018, respectively, pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.
- F2The reporting person disclaims beneficial ownership of these securities, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or any other purpose.
- 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.
- F5These units of phantom stock were originally included in Table I of the Form 3 filed with the SEC on May 19, 2017 and have been moved to Table II for future reporting.