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

Apr 9, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2015-04-07

Reporting Person: DICERBO NICHOLAS A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-07	Common Stock	J	393	—	Disposed	391.9996	Indirect
2015-04-07	Common Stock	J	393	—	Acquired	198801.5314	Direct
2015-04-07	Common Stock	J	391.9996	—	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	931.463	Indirect

Footnotes

F1: The reporting person's law firm, DiCerbo and Palumbo, distributed 393 shares to the reporting person and 391.9996 shares to Mr. Palumbo.