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

Mar 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2021-03-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-16	Common Stock	A	960	—	Acquired	13213.4008	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-16	Stock Option	$79.66	A	4151	Acquired	2031-03-16	Common Stock (4151)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1536.8856	Indirect

Footnotes

F1: Includes 269.6766 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 16, 2022, 2023, 2024, 2025, and 2026.