John Parente - 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 John Parente
Stock symbol
CBU
Transactions as of
Mar 14, 2023
Transactions value $
$0
Form type
4
Date filed
3/16/2023, 12:20 PM
Previous filing
Mar 16, 2022
Next filing
Mar 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBU Common Stock Options Exercise $0 +662 +1.03% $0.00 65.2K Mar 15, 2023 Direct F1

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 +174.41% $0.00 1.82K Mar 14, 2023 Common Stock 1.15K $0.00 Direct F2, F3
transaction CBU Phantom Stock (Deferred Stock Units) Options Exercise $0 -662 -36.44% $0.00 1.15K Mar 15, 2023 Common Stock 662 $0.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 15, 2023, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.
F2 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.
F3 Includes 17.6714 units of phantom stock acquired as dividend equivalents under the Plan.