COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2022

Dec 5, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2022-12-01

Reporting Person: Whipple John F. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-12-01	Common Stock	M	1225.1412	—	Acquired	3855.6272	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-12-01	Phantom Stock (Deferred Compensation)	$	M	1225.1412	Disposed		Common Stock (1225.1412)	Direct

Footnotes

F1: On December 1, 2022, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.

F2: Each unit of phantom stock is the economic equivalent of one share of Community Bank System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.