Sally A. Steele - Apr 15, 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 Sally A. Steele
Stock symbol: CBU
Transactions as of: Apr 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/19/2022, 03:03 PM
Previous filing: Mar 17, 2022
Next filing: Apr 28, 2022
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	+582	+1.14%	$0.00	51.5K	Apr 15, 2022	Direct
holding	CBU	Common Stock						2.59K	Apr 15, 2022	Joint with brother

Showing 1 to 2 of 2 entries

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	-582	-47.49%	$0.00	644	Apr 15, 2022	Common Stock	582		Direct	F1

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

Explanation of Responses:

Id	Content
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.