Jeffrey L. Davis - 14 Mar 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 Jeffrey L. Davis
Issuer symbol
CBU
Transactions as of
14 Mar 2023
Net transactions value
$0
Form type
4
Filing time
15 Mar 2023, 16:16:44 UTC
Previous filing
05 Jan 2023
Next filing
17 Mar 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 Stock Units) Award $0 +1,154 +33% $0.000000 4,667 14 Mar 2023 Common Stock 1,154 Direct F5, F6
holding CBU Phantom Stock (Deferred Compensation) 6,128 14 Mar 2023 Common Stock 6,128 Direct F1, F2
holding CBU Phantom Stock (Deferred Compensation under Merchants plan) 52,073 14 Mar 2023 Common Stock 52,073 Direct F3, F4
* 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.
F2 Includes 144.5157 units of phantom stock acquired under the Deferred Compensation Plan's dividend reinvestment feature.
F3 The units of phantom stock were acquired through 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.
F4 Includes 1,585.1336 units of phantom stock acquired under the Merchants' deferred compensation plan's dividend reinvestment feature.
F5 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.
F6 Includes 93.5056 units of phantom stock acquired as dividend equivalents under the Plan.