SEC Form 4 · accession 0001127602-18-012599

COMMUNITY FINANCIAL SYSTEM, INC. · CBU

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Mar 20, 2018

Accepted (ET)

Mar 22, 2018 · 8:00 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^F1	holding	—	—		—	13,995	D
Common Stock	holding	—	—		—	858	I	By Spouse

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	611	D
Phantom Stock (Deferred Compensation)^F4,F3	—	holding	—	—	—	—	—	Common Stock	52,585	52,585	D

F1The reporting person no longer has a reportable beneficial ownership in the following shares previously included in the reporting person's ownership reports: 4,707 held in trust and 493 shares held by the reporting person's son.
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.
F4These units of phantom stock were originally included in Table I and have been moved to Table II for future reporting.