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

Oct 12, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2016-10-11

Reporting Person: TRYNISKI MARK E (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-11	Common Stock	M	7360	$19.48	Acquired	129812	Direct
2016-10-11	Common Stock	F	5223	$48.67	Disposed	124589	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-11	Stock Option	$19.48	M	7360	Disposed	2020-01-20	Common Stock (7360)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15954.3871	Indirect

Footnotes

F1: The option vested ratably on January 20, 2011, 2012, 2013, 2014, and 2015.