SEC Form 4 · accession 0001127602-18-016238
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian D Donahue
Officer — EVP & Chief Banking Officer
Period of report
May 2, 2018
Accepted (ET)
May 3, 2018 · 5:02 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 | May 2, 2018 | M | 5,087 | $18.08 | A | 44,488 | D | |
| Common StockF1 | May 2, 2018 | S | 5,087 | $57.7841 | D | 39,401 | D | |
| Common Stock | May 3, 2018 | M | 62 | $18.08 | A | 39,463 | D | |
| Common StockF2 | May 3, 2018 | S | 62 | $57.0342 | D | 39,401 | D | |
| Common Stock | holding | — | — | — | 8,496 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF3 | $18.08 | May 2, 2018 | M | 5,087 | D | — | Jan 29, 2019 | Common Stock | 5,087 | 62 | D |
| Stock OptionF3 | $18.08 | May 3, 2018 | M | 62 | D | — | Jan 29, 2019 | Common Stock | 62 | 0 | 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 $57.50 to $58.04, 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.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.01 to $57.04, 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.
- F3The option vests in five equal installments on January 29, 2010, 2011, 2012, 2013, and 2014.