Raymond C. Pecor III - 17 Mar 2026 Form 4 Insider Report for COMMUNITY FINANCIAL SYSTEM, INC. (CBU)

Reporting relationship: Director
Issuer ticker: CBU
Reported as of: 17 Mar 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 19 Mar 2026, 18:04:36 UTC
Prior SEC filing: 11 Feb 2026
Next SEC filing: 23 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Raymond C. Pecor, III

Key filing fact

Raymond C. Pecor III filed Form 4 for COMMUNITY FINANCIAL SYSTEM, INC. (CBU) on 19 Mar 2026.

Key facts

This page summarizes Raymond C. Pecor III's Form 4 filing for COMMUNITY FINANCIAL SYSTEM, INC. (CBU).
1 reported transaction and 3 derivative rows are listed below.
Accepted by SEC: 19 Mar 2026, 18:04.

Change

Previous filing in this sequence was filed on 11 Feb 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001475265 Primary reporting owner

Pecor Raymond C III

Relationship: Director
Address: C/O COMMUNITY FINANCIAL SYSTEM, INC., 5790 WIDEWATERS PARKWAY, DEWITT
Signature: /s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Raymond C. Pecor, III
Signature date: 19 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CBU holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 10,185
Date: 17 Mar 2026
Ownership: Direct
Footnotes: F1

CBU holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 11,278
Date: 17 Mar 2026
Ownership: By Trust
Footnotes: F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CBU transaction Derivative

Phantom Stock (Deferred Stock Units)

Award

Transaction value
Shares: +1,220
Change %: +17%
Price: $0.000000^*
Shares after: 8,391
Date: 17 Mar 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,220
Exercise price
Footnotes: F8, F9

CBU holding Derivative

Phantom Stock (Deferred Compensation under Merchants plan)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 10,089
Date: 17 Mar 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 10,089
Exercise price
Footnotes: F4, F5

CBU holding Derivative

Phantom Stock (Deferred Compensation)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 8,799
Date: 17 Mar 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 8,799
Exercise price
Footnotes: F6, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 9 footnotes

Footnote F1

Includes 78.04 shares acquired on January 12, 2026 pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan.

Footnote F2

Includes 86.2 shares acquired on January 12, 2026 pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan.

Footnote F3

The reporting person disclaims beneficial ownership of these securities, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or any other purpose.

Footnote F4

The units of phantom stock were acquired through Merchants Bancshares, Inc.'s ("Merchants") deferred compensation plan. Each unit of phantom stock is the economic equivalent of one share of Community Financial System, Inc. common stock. The units of phantom stock relating to such deferred compensation plan will be settled in Community Financial System, Inc. common stock at future dates selected by the reporting person.

Footnote F5

Includes 77.299 units of phantom stock acquired on January 12, 2026 under the Merchants' deferred compensation plan's dividend reinvestment feature

Footnote F6

Each unit of phantom stock is the economic equivalent of one share of Community Financial System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan for Directors (the "DCP for Directors"), will be settled in Community Financial System, Inc. common stock at future dates selected by the reporting person.

Footnote F7

Includes 67.3778 units of phantom stock acquired as dividend equivalents on January 12, 2026 under the DCP for Directors.

Footnote F8

The reporting person has received deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan, as amended (the "LTIP"). 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.

Footnote F9

Includes 55.1073 units of phantom stock acquired on January 12, 2026 under the LTIP's dividend reinvestment feature.