COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2014

Mar 20, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2014-03-19

Reporting Person: TRYNISKI MARK E (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-19	Common Stock	A	4004	—	Acquired	81483	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-19	Stock Option	$37.77	A	18026	Acquired	2024-03-19	Common Stock (18026)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13652.0331	Indirect

Footnotes

F1: The number of shares reported herein were acquired pursuant to Community Bank System, Inc.'s 401(K) Plan and are based on a current plan statement.

F2: The option vests ratably on March 19, 2015, 2016, 2017, 2018, and 2019.