COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2020

Dec 17, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2020-12-15

Reporting Person: Bolus Mark J. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-15	Common Stock	M	622.0556	$65.65	Acquired	78632.5386	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-15	Phantom Stock (Deferred Stock Units)	$	M	622.0556	Disposed		Common Stock (622.0556)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4916.852	Indirect
Common Stock	207.633	Indirect
Common Stock	207.633	Indirect
Common Stock	6732.126	Indirect
Common Stock	209.196	Indirect
Common Stock	209.196	Indirect
Common Stock	4916.852	Indirect
Common Stock	4916.852	Indirect
Common Stock	4916.852	Indirect

Footnotes

F1: The reporting person has received deferred stock units under the Community Bank System, Inc. 2014 Long-Term Incentive Plan. Each phantom stock unit which represents a deferred stock unit is the economic equivalent of one share of Community Bank System, Inc. common stock and will be settled in common stock at a predetermined date.