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COMMUNITY FINANCIAL SYSTEM, INC. Director's Dealing 2013

Jun 25, 2013

31347_dirs_2013-06-25_5472acea-08e8-4ecf-8c33-6bfd45d87c6c.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: 2013-06-21

Reporting Person: Mucenski Edward S. (Director)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2013-06-21 Phantom Stock (Deferred Compensation) $ A 210.9349 Acquired Common Stock (210.9349) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 2920.0077 Direct
Common Stock 6700.2546 Indirect
Common Stock 519.246 Indirect

Footnotes

F1: Includes 27.362 shares and 26.709 shares acquired on January 10, 2013 and April 10, 2013, respectively, pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.

F2: Includes 62.772 shares and 61.277 shares acquired on January 10, 2013 and April 10, 2013, respectively, pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.

F3: Includes 4.812, 4.865 shares and 4.749 shares acquired on October 10, 2012, January 10, 2013 and April 10, 2013, respectively, pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.

F4: 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.

F5: Includes 45.3901 units of phantom stock acquired on April 10, 2013 under the Deferred Compensation Plan's dividend reinvestment feature.