Raymond C. Pecor III - Mar 14, 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 Raymond C. Pecor, III
Stock symbol
CBU
Transactions as of
Mar 14, 2023
Transactions value $
$0
Form type
4
Date filed
3/15/2023, 01:55 PM
Previous filing
Dec 19, 2022
Next filing
Mar 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CBU Common Stock 8.6K Mar 14, 2023 Direct F1
holding CBU Common Stock 9.03K Mar 14, 2023 By Trust F2, F3

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) Award $0 +1.15K +40.71% $0.00 3.99K Mar 14, 2023 Common Stock 1.15K Direct F8, F9
holding CBU Phantom Stock (Deferred Compensation under Merchants plan) 9.07K Mar 14, 2023 Common Stock 9.07K Direct F4, F5
holding CBU Phantom Stock (Deferred Compensation) 4.67K Mar 14, 2023 Common Stock 4.67K Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 228.635 shares acquired pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.
F2 Includes 240.103 shares acquired pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.
F3 The reporting person disclaims beneficial ownership of these securities, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or any other purpose.
F4 The units of phantom stock were acquired through Merchants Bancshares, Inc.'s ("Merchants") deferred compensation plan. 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 such deferred compensation plan will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.
F5 Includes 241.3236 units of phantom stock acquired under the Merchants' deferred compensation plan's dividend reinvestment feature.
F6 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.
F7 Includes 106.2503 units of phantom stock acquired under the Deferred Compensation Plan's dividend reinvestment feature.
F8 The reporting person has received deferred stock units under the Community Bank System, Inc. 2022 Long-Term Incentive Plan, as amended (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.
F9 Includes 76.3715 units of phantom stock acquired as dividend equivalents under the Plan.