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

Mar 22, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2019-03-20

Reporting Person: Serbun Joseph F (EVP, Chief Credit Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-20	Common Stock	A	861	—	Acquired	11114.7242	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-03-20	Stock Option	$59.41	A	3569	Acquired	2029-03-20	Common Stock (3569)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	840.1193	Indirect

Footnotes

F1: The number of shares reported herein acquired pursuant to Community Bank System, Inc.'s 401(k) Plan and are based on a current plan statement.

F2: The option vests ratably on March 20, 2020, 2021, 2022, 2023, and 2024.