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COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2012
May 22, 2012
31347_dirs_2012-05-22_82b82c18-6b7d-4797-a0a2-a19a8fa1608f.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: 2012-05-18
Reporting Person: Fesette Neil E. (Director)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2012-05-18 | Phantom Stock (Deferred Compensation) | $ | A | 35.2505 | Acquired | Common Stock (35.2505) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 92.704 | Direct |
Footnotes
F1: Includes .861 shares acquired on April 10, 2012 pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.
F2: These phantom stock units were acquired on April 10, 2012 under the Deferred Compensation Plan's dividend reinvestment feature. 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.