COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2013

Mar 14, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM INC (CBU)
CIK: 0000723188
Period of Report: 2013-02-13

Reporting Person: DICERBO NICHOLAS A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-13	Common Stock	M	5457	$18.09	Acquired	131675.5024	Direct
2013-02-13	Common Stock	F	3380	$29.20	Disposed	128295.5024	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-13	Stock Option	$18.09	M	5457	Disposed	2018-01-16	Common Stock (5457)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	101766.9436	Indirect
Common Stock	872.739	Indirect