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COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2011
Jan 10, 2011
31347_dirs_2011-01-10_82d5330c-b831-4e7e-b3cf-97c853ca850b.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: COMMUNITY BANK SYSTEM INC (CBU)
CIK: 0000723188
Period of Report: 2011-01-06
Reporting Person: PATTERSON DAVID CHARLES (Director)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-01-06 | Common Stock | M | 2126 | — | Acquired | 53184 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-01-06 | Phantom Stock (Deferred Compensation) | $ | M | 2126 | Disposed | Common Stock (2126) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 334 | Indirect |
Footnotes
F1: Each phantom stock unit relating to the Deferred Compensation Plan entitles the reporting person to receive one share of Community Bank System, Inc. common stock. On January 6, 2011, the reporting person's phantom stock units were settled for an equal number of shares and cash for .6291 share at $27.77 per share.
F2: 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.
F3: 2,126.6291 phantom stock units were settled for 2,126 shares of common stock and cash for .6291 share at $27.77 per share.