SEC Form 4 · accession 0001127602-18-022024
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph F Serbun
Officer — EVP, Chief Credit Officer
Period of report
Jun 29, 2018
Accepted (ET)
Jun 29, 2018 · 4:00 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 | Jun 29, 2018 | M | 82 | $19.48 | A | 8,309 | D | |
| Common Stock | Jun 29, 2018 | M | 2,599 | $27.36 | A | 10,908 | D | |
| Common StockF1 | Jun 29, 2018 | S | 2,681 | $59.7269 | D | 8,227 | D | |
| Common Stock | holding | — | — | — | 547 | 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 OptionF2 | $19.48 | Jun 29, 2018 | M | 82 | D | — | Jan 20, 2020 | Common Stock | 82 | 0 | D |
| Stock OptionF3 | $27.36 | Jun 29, 2018 | M | 2,599 | D | — | Jan 19, 2021 | Common Stock | 2,599 | 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 $59.60 to $59.90, 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 option vested ratably on January 20, 2011, 2012, 2013, 2014 and 2015.
- F3The option vested ratably on January 19, 2012, 2013, 2014, 2015 and 2016.