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

Jan 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2015-01-01

Reporting Person: Kingsley Scott Allen (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-01	Common Stock	F	295	$38.13	Disposed	23616	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3618.8928	Indirect

Footnotes

F1: Payment of tax liability associated with vesting of restricted stock grant.