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

Jan 19, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2016-01-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-14	Common Stock	A	10800.07	—	Acquired	107442.07	Direct
2016-01-14	Common Stock	F	4088.07	$39.94	Disposed	103354	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15433.8388	Indirect

Footnotes

F1: On January 14, 2016, the Compensation Committee approved the vesting of the three-year performance-based restricted stock award, granted to the reporting person in 2013, based on achievement of predetermined performance criteria at target level.

F2: Payment of tax liability associated with the vesting of the three-year performance-based restricted stock award.

F3: The number of shares reported herein were acquired pursuant to Community Bank System, Inc.'s 401(K) Plan and are based on a current plan statement.