JEFFREY L. DAVIS - 15 Jun 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
15 Jun 2023
Net transactions value
$0
Form type
4
Filing time
20 Jun 2023, 15:21:01 UTC
Previous filing
17 Mar 2023
Next filing
22 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CBU Common Stock Options Exercise $0 +1,217 +5.7% $0.000000 22,733 15 Jun 2023 Direct
transaction CBU Common Stock Options Exercise $0 +695 +3.1% $0.000000 23,429 15 Jun 2023 Direct
holding CBU Common Stock 858 15 Jun 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 -1,217 -19% $0.000000 5,304 15 Jun 2023 Common Stock 1,217 Direct F1
transaction CBU Phantom Stock (Deferred Stock Units) Options Exercise $0 -695 -15% $0.000000 3,971 15 Jun 2023 Common Stock 695 Direct F2
* 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 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.