SALLY A. STEELE - 18 Mar 2025 Form 4 Insider Report for COMMUNITY FINANCIAL SYSTEM, INC. (CBU)

Role: Director
Signature: /s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Sally A. Steele
Issuer symbol: CBU
Transactions as of: 18 Mar 2025
Net transactions value: $0
Form type: 4
Filing time: 20 Mar 2025, 16:07:53 UTC
Previous filing: 14 Jan 2025
Next filing: 16 Apr 2025
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	+1,225	+104%	$0.000000	2,407	18 Mar 2025	Common Stock	1,225		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 Financial 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 Financial System, Inc. common stock and will be settled in common stock at a predetermined date.
F2	Includes 13.032, 11.2154, and 9.1082 units of phantom stock acquired as dividend equivalents on July 10, 2024, October 10, 2024, and January 10, 2025, respectively, under the Plan.