COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2016

Nov 18, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2016-11-18

Reporting Person: STICKELS ERIC (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-18	Common Stock	M	4246	$38.02	Acquired	19287	Direct
2016-11-18	Common Stock	F	3493	$54.89	Disposed	15794	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-18	Stock Option	$38.02	M	4246	Disposed	2026-03-16	Common Stock (4246)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1730	Indirect
Common Stock	27224.0545	Indirect
Common Stock	10947.9598	Indirect
Common Stock	4639.1383	Indirect
Common Stock	3199.0834	Indirect