Brian R. Ace - Jan 3, 2022 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role
Director
Signature
/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Brian R. Ace
Stock symbol
CBU
Transactions as of
Jan 3, 2022
Transactions value $
$0
Form type
4
Date filed
1/5/2022, 03:21 PM
Previous filing
Jan 7, 2022
Next filing
Mar 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBU Common Stock Options Exercise $0 +3.26K +5.11% $0.00 67.1K Jan 3, 2022 Direct F1
holding CBU Common Stock 144 Jan 3, 2022 By Spouse

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CBU Phantom Stock (Deferred Compensation) Options Exercise $0 -3.26K -33.35% $0.00 6.52K Jan 3, 2022 Common Stock 3.26K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 3, 2022, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.
F2 Each 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.
F3 Includes 51.55, 54.8356, and 58.1476 units of phantom stock acquired on April 9, 2021, July 9, 2021 and October 8, 2021, respectively under the Deferred Compensation Plan's dividend reinvestment feature.