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

Mar 16, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
CIK: 0000723188
Period of Report: 2022-03-15

Reporting Person: MacPherson Kerrie D. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-15	Phantom Stock (Deferred Stock Units)	$	A	644	Acquired		Common Stock (644)	Direct

Footnotes

F1: The reporting person has received deferred stock units under the Community Bank System, Inc. 2014 Long-Term Incentive Plan (the "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 29.2337 units of phantom stock acquired as dividend equivalents under the Plan.