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COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2014
Dec 10, 2014
31347_dirs_2014-12-10_a0fde5b7-201e-4cb0-9963-60027829e4b4.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: 2014-12-08
Reporting Person: ACE BRIAN R (Director)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2014-12-08 | Common Stock | M | 3604 | $24.84 | Acquired | 23439 | Direct |
| 2014-12-08 | Common Stock | F | 2355 | $38.03 | Disposed | 21084 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2014-12-08 | Stock Option | $24.84 | M | 3604 | Disposed | 2015-01-19 | Common Stock (3604) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 16957 | Indirect |
| Common Stock | 121 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Phantom Stock (Deferred Compensation) | $ | Common Stock (27217.6192) | 27217.6192 | Direct |
Footnotes
F1: 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.
F2: Includes 186.6575, 197.3401, 209.0647, and 240.7929 units of phantom stock acquired on January 10, 2014, April 10, 2014, July 10, 2014, and October 10, 2014, respectively, under the Deferred Compensation Plan's dividend reinvestment feature.