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

Feb 9, 2016

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2015-12-31

Reporting Person: Mucenski Edward S. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-09-14	Common Stock	G	370	—	Disposed	2253.42	Direct
2015-09-14	Common Stock	G	370	—	Acquired	1472.52	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7257.5896	Indirect

Footnotes

F1: Includes 18.003 shares acquired on October 9, 2015 pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.

F2: Includes 11.784 shares acquired on October 9, 2015 pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.

F3: Includes 58.080 shares acquired on October 9, 2015 pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.