SEC Form 4 · accession 0001127602-19-000588
COMMUNITY FINANCIAL SYSTEM, INC. · CBU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sally A Steele
Director
Period of report
Jan 1, 2019
Accepted (ET)
Jan 3, 2019 · 3:17 pm EST
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 | Jan 1, 2019 | M | 3,032 | $0.00 | A | 55,976 | D | |
| Common Stock | holding | — | — | — | 1,967 | I | Joint with brother |
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 | — | Jan 1, 2019 | M | 3,032 | D | — | — | Common Stock | 3,032 | 17,382 | D |
| Phantom Stock (Deferred Stock Units)F5,F4 | — | holding | — | — | — | — | — | Common Stock | 1,128 | 1,128 | D |
Explanation of responses
- F1On January 1, 2019, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.
- 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 116.1469 and 130.5521 units of phantom stock acquired on July 10, 2018 and October 10, 2018, respectively 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.
- F5Includes 3.3867 and 3.8068 units of phantom stock acquired on July 10, 2018 and October 10, 2018, respectively under the dividend reinvestment feature.