SEC Form 4 · accession 0001127602-18-025990

COMMUNITY FINANCIAL SYSTEM, INC. · CBU

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

Reporting owner

Director

Period of report

Aug 21, 2018

Accepted (ET)

Aug 22, 2018 · 3:59 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	Aug 21, 2018	M	2,566	$28.78	A	2,835	D
Common Stock^F1	Aug 21, 2018	S	2,566	$66.2717	D	269	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option	$28.78	Aug 21, 2018	M	2,566	D	Mar 21, 2012	Mar 21, 2022	Common Stock	2,566	2,000	D
Phantom Stock (Deferred Compensation)^F3,F2	—	holding	—	—	—	—	—	Common Stock	11,086	11,086	D

F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.13 to $66.345, 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.
F3Includes 61.8572 units of phantom stock acquired on July 10, 2018, under the Deferred Compensation Plan's dividend reinvestment feature.