JEFFREY L. DAVIS - 15 Dec 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 Jeffrey L. Davis
Issuer symbol: CBU
Transactions as of: 15 Dec 2022
Net transactions value: +$21,250
Form type: 4
Filing time: 19 Dec 2022, 14:33:29 UTC
Previous filing: 23 Sep 2022
Next filing: 05 Jan 2023
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 Compensation)	Award	$21,250	+356	+6.3%	$59.77	5,983	15 Dec 2022	Common Stock	356		Direct	F1

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

Explanation of Responses:

Id	Content
F1	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.