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

Mar 19, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2020-03-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-17	Common Stock	A	1046	—	Acquired	12252.7242	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-17	Stock Option	$51.64	A	4972	Acquired	2030-03-17	Common Stock (4972)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1186.7395	Indirect

Footnotes

F1: Includes 335 shares acquired pursuant to the Community Bank System, Inc. Dividend Reinvestment Plan.

F2: 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.

F3: The option vests ratably on March 17, 2021, 2022, 2023, 2024, and 2025.