COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2021

Dec 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2021-12-15

Reporting Person: Bolus Mark J. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-12-15	Common Stock	M	899.2745	$73.32	Acquired	81126.1255	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-12-15	Phantom Stock (Deferred Stock Units)	$	M	899.2745	Disposed		Common Stock (899.2745)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5051.852	Indirect
Common Stock	213.387	Indirect
Common Stock	213.387	Indirect
Common Stock	6916.934	Indirect
Common Stock	214.993	Indirect
Common Stock	214.993	Indirect
Common Stock	5051.852	Indirect
Common Stock	5051.852	Indirect
Common Stock	5051.852	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.

F2: Includes 21.7739 units of phantom stock acquired as dividend equivalents under the 2014 Long-Term Incentive Compensation Program.