Kerrie D. MacPherson - Mar 19, 2024 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role: Director
Signature: /s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Kerrie D. MacPherson
Stock symbol: CBU
Transactions as of: Mar 19, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/20/2024, 06:15 PM
Previous filing: Mar 7, 2024
Next filing: Jun 7, 2024

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	+1.4K	+40.6%	$0.00	4.83K	Mar 19, 2024	Common Stock	1.4K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	Includes 29.338, 33.0416, 35.5928, and 30.5001 units of phantom stock acquired on April 10, 2023, July 10, 2023, October 10, 2023, and January 10, 2024, respectively, as dividend equivalents under the Plan.