JEFFREY L. DAVIS - 15 Mar 2022 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role
Director
Signature
Danielle M. Cima, pursuant to a Confirming Statement executed by Jeffrey L. Davis
Issuer symbol
CBU
Transactions as of
15 Mar 2022
Net transactions value
$0
Form type
4
Filing time
17 Mar 2022, 17:09:10 UTC
Previous filing
17 Dec 2021
Next filing
18 Mar 2022
SEC
View on sec.gov

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 Stock Units) Award $0 +644 +23% $0.000000 3,419 15 Mar 2022 Common Stock 644 Direct F1, F2
holding CBU Phantom Stock (Deferred Compensation under Merchants plan) 58,009 15 Mar 2022 Common Stock 58,009 Direct F3, F4
holding CBU Phantom Stock (Deferred Compensation) 4,724 15 Mar 2022 Common Stock 4,724 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person has received deferred stock units under the Community Bank System, Inc. 2014 Long-Term Incentive Plan (the "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.
F2 Includes 58.3671 units of phantom stock acquired as dividend equivalents under the Plan.
F3 The units of phantom stock were acquired through Merchants Bancshares, Inc.'s ("Merchants") deferred compensation plan. 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 such deferred compensation plan will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.
F4 Includes 1,293.6875 units of phantom stock acquired under the Merchants' deferred compensation plan's dividend reinvestment feature
F5 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.
F6 Includes 24.5069 units of phantom stock acquired on January 10, 2022 under the Deferred Compensation Plan's dividend reinvestment feature.