JOSEPH E. SUTARIS - 02 Dec 2022 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role: EVP & Chief Financial Officer
Signature: /s/ Danielle M. Cima, pursuant to a Confiming Statement executed by Joseph E. Sutaris
Issuer symbol: CBU
Transactions as of: 02 Dec 2022
Net transactions value: -$33,242
Form type: 4
Filing time: 06 Dec 2022, 09:33:18 UTC
Previous filing: 15 Mar 2023
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	$84,440	+2,388	+27%	$35.36	11,263	02 Dec 2022	Direct
transaction	CBU	Common Stock	Tax liability	$117,682	-1,813	-16%	$64.91	9,450	02 Dec 2022	Direct
holding	CBU	Common Stock						2,197	02 Dec 2022	By 401(k) Plan

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	-2,388	-100%	$0.000000^*	0	02 Dec 2022	Common Stock	2,388	$35.36	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The option vests ratably on March 18, 2016, 2017, 2018, 2019 and 2020.