JEFFREY M. LEVY - 28 Mar 2022 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role
President, Commercial Banking
Signature
/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Jeffrey M. Levy
Issuer symbol
CBU
Transactions as of
28 Mar 2022
Net transactions value
-$15,029
Form type
4
Filing time
30 Mar 2022, 15:30:27 UTC
Previous filing
16 Mar 2022
Next filing
09 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBU Common Stock Options Exercise $22,932 +386 +11% $59.41 3,961 28 Mar 2022 Direct
transaction CBU Common Stock Options Exercise $29,332 +568 +14% $51.64 4,529 28 Mar 2022 Direct
transaction CBU Common Stock Sale $67,292 -954 -21% $70.54 3,575 28 Mar 2022 Direct F1
holding CBU Common Stock 1,417 28 Mar 2022 By 401(k) Plan F2

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 Stock Option Options Exercise $0 -386 -33% $0.000000 772 28 Mar 2022 Common Stock 386 $59.41 Direct F3
transaction CBU Stock Option Options Exercise $0 -568 -25% $0.000000 1,705 28 Mar 2022 Common Stock 568 $51.64 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.49 to $70.58, 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.
F2 The number of shares reported herein acquired pursuant to Community Bank System, Inc.'s 401(k) Plan and are based on a current plan statement.
F3 The option vested ratably on March 20, 2020, 2021, 2022, 2023 and 2024.
F4 The option vested ratably on March 17, 2021, 2022, 2023, 2024 and 2025.