SEC Form 4 · accession 0001127602-18-022334
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark J. Bolus
Director
Period of report
Jun 27, 2018
Accepted (ET)
Jul 2, 2018 · 5:31 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 | Jun 27, 2018 | S | 3,693 | $60.385 | D | 66,759 | D | |
| Common Stock | holding | — | — | — | 6,411 | I | By Mark Bolus Trust | |
| Common Stock | holding | — | — | — | 194 | I | By daughter, Taylor Bolus | |
| Common Stock | holding | — | — | — | 194 | I | By daughter, Paige Bolus | |
| Common Stock | holding | — | — | — | 194 | I | By son, Austin Bolus | |
| Common Stock | holding | — | — | — | 194 | I | By son, Noah Bolus | |
| Common Stock | holding | — | — | — | 4,686 | I | By Taylor Bolus Trust | |
| Common Stock | holding | — | — | — | 4,686 | I | By Paige Bolus Trust | |
| Common Stock | holding | — | — | — | 4,687 | I | By Austin Bolus Trust | |
| Common Stock | holding | — | — | — | 4,687 | I | By Noah Bolus 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 Compensation)F3,F2 | — | Jun 28, 2018 | A | 292 | A | — | — | Common Stock | 292 | 4,115 | D |
| Phantom Stock (Deferred Stock Units)F5,F4 | — | holding | — | — | — | — | — | Common Stock | 1,532 | 1,532 | 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 $59.61 to $61.10, 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.
- F2Each 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.
- F3The number of units of phantom stock reflects the current balance, including dividends acquired under the Deferred Compensation Plan's dividend reinvestment feature.
- F4The 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.
- F5The number of units of phantom stock reflects the current balance, including dividends acquired under the Community Bank System, Inc. 2014 Long-Term Incentive Plan's dividend reinvestment feature.