COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2019

May 7, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2019-05-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-06	Common Stock	M	14357	$27.36	Acquired	136854	Direct
2019-05-06	Common Stock	F	8734	$67.26	Disposed	128120	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-06	Stock Option	$27.36	M	14357	Disposed	2021-01-19	Common Stock (14357)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17763.8912	Indirect

Footnotes

F1: The option vested ratably on January 19, 2012, 2013, 2014, 2015, and 2016.