COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2018

Mar 22, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2018-03-01

Reporting Person: DONAHUE BRIAN D (EVP & Chief Banking Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-01	Common Stock	F	595	$53.31	Disposed	37714	Direct
2018-03-20	Common Stock	A	1687	—	Acquired	39401	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-20	Stock Option	$55.92	A	7059	Acquired	2028-03-20	Common Stock (7059)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8496.4188	Indirect

Footnotes

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

F2: 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.

F3: The option vests ratably on March 20, 2019, 2020, 2021, 2022, and 2023.