ERIC STICKELS - 15 Nov 2022 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role: Director
Signature: Danielle M. Cima, pursuant to a Confirming Statement executed by Eric E. Stickels
Issuer symbol: CBU
Transactions as of: 15 Nov 2022
Net transactions value: +$33,824
Form type: 4
Filing time: 17 Nov 2022, 10:10:59 UTC
Previous filing: 16 Mar 2022
Next filing: 16 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	$33,824	+525	+1.6%	$64.37	33,269	15 Nov 2022	Direct
holding	CBU	Common Stock						9,124	15 Nov 2022	By Wife's Community Bank System, Inc. 401(k)

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)	Options Exercise	$0	-525	-20%	$0.000000	2,169	15 Nov 2022	Common Stock	525		Direct	F1

* 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.