COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2015

Nov 6, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2015-11-05

Reporting Person: DICERBO NICHOLAS A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-11-05	Common Stock	S	171	$41.55	Disposed	201225.7334	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	946.922	Indirect