Brian R. Ace - Jan 3, 2023 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role
Director
Signature
/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Brian R. Ace
Stock symbol
CBU
Transactions as of
Jan 3, 2023
Transactions value $
$0
Form type
4
Date filed
1/4/2023, 01:57 PM
Previous filing
Mar 3, 2023
Next filing
Feb 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBU Common Stock Options Exercise $0 +3.35K +4.93% $0.00 71.4K Jan 3, 2023 Direct F1
holding CBU Common Stock 152 Jan 3, 2023 By Spouse

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) Options Exercise $0 -3.35K -51.05% $0.00 3.22K Jan 3, 2023 Common Stock 3.35K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 3, 2023, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.
F2 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.