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

Jan 10, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2019-01-08

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-08	Common Stock	A	3560.28	—	Acquired	11787.0024	Direct
2019-01-08	Common Stock	F	1306.2782	$60.34	Disposed	10480.7242	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	755.2445	Indirect

Footnotes

F1: On January 8, 2019, the Compensation Committee approved the vesting of the three-year performance-based restricted stock award, granted to the reporting person in 2016, based on achievement of predetermined performance criteria at the maximum level.

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

F3: 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.