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COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2012
Jan 18, 2012
31347_dirs_2012-01-18_c5f6e007-79d8-489c-a3d3-bcaf307d9af0.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: 2012-01-13
Reporting Person: CANTWELL PAUL M JR (Director)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2012-01-13 | Common Stock | M | 895 | — | Acquired | 103662 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2012-01-13 | Phantom Stock (Deferred Compensation) | $ | M | 895 | Disposed | Common Stock (895) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 10450 | 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 13, 2012, the reporting person's phantom stock units were settled for an equal number of shares and cash for .5305 share at $27.80 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: 895.5305 phantom stock units were settled for 895 shares of common stock and cash for .5305 share at $27.80.