John Parente - 15 Mar 2022 Form 4 Insider Report for COMMUNITY BANK SYSTEM, INC. (CBU)

Role: Director
Signature: /s/ Danielle M. Cima, pursuant to a Confirming Statement executed by John Parente
Issuer symbol: CBU
Transactions as of: 15 Mar 2022
Net transactions value: $0
Form type: 4
Filing time: 16 Mar 2022, 18:27:42 UTC
Next filing: 16 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CBU	Common Stock	Options Exercise	$0	+579	+0.91%	$0.000000	64,526	15 Mar 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CBU	Phantom Stock (Deferred Stock Units)	Options Exercise	$0	-579	-100%	$0.000000^*	0	15 Mar 2022	Common Stock	579	$0.000000	Direct	F2, F3
transaction	CBU	Phantom Stock (Deferred Stock Units)	Award	$0	+644		$0.000000	644	15 Mar 2022	Common Stock	644	$0.000000	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On March 15, 2022, the reporting person's phantom stock units were settled for an equal number of shares of Community Bank System, Inc. common stock.
F2	Includes 9.8265 units of phantom stock acquired as dividend equivalents under the Community Bank System, Inc. 2014 Long-Term Incentive Plan (the "Plan").
F3	The reporting person has received deferred stock units under 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.