Sally A. Steele - Mar 15, 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 Sally A. Steele
Stock symbol
CBU
Transactions as of
Mar 15, 2023
Transactions value $
$0
Form type
4
Date filed
3/17/2023, 12:47 PM
Previous filing
Mar 16, 2023
Next filing
Dec 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBU Common Stock Options Exercise $0 +662 +1.56% $0.00 43K Mar 15, 2023 Direct F1
holding CBU Common Stock 4.59K Mar 15, 2023 Joint with brother

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) Options Exercise $0 -662 -36.37% $0.00 1.16K Mar 15, 2023 Common Stock 662 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.