Form Type: 4

SEC EDGAR Link
Accession Number:0001127602-20-000549
Date:2020-01-02
Issuer: COMMUNITY BANK SYSTEM, INC. (CBU)
Original Submission Date:

Reporting Person:

ACE BRIAN R
C/O COMMUNITY BANK SYSTEM, INC.
5790 WIDEWATERS PARKWAY DEWITT, NY 13214

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2020-01-02 M 3,094 a $0.00 60,143 direct
COMMON STOCK 2020-01-02 0 $0.00 140 indirect
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
PHANTOM STOCK (DEFERRED COMPENSATION) 0.0 2020-01-02 deemed execution date M 3,094 (d) common stock 3,094 $0.00 12,367 direct
PHANTOM STOCK (DEFERRED STOCK UNITS) 0.0 2020-01-02 deemed execution date 0 ( ) common stock 3,717 $0.00 3,717 direct
Footnotes
IDfootnote
f1 on january 2, 2020, 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.
f3 includes 92.1838, 89.5100 and 102.8554 units of phantom stock acquired on april 10, 2019, july 10, 2019 and october 10, 2019, respectively under the deferred compensation plan's dividend reinvestment feature.
f4 the reporting person has received deferred stock units under the community bank system, inc. 2014 long-term incentive 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.
f5 includes 18.7038, 21.5383 and 24.7491 units of phantom stock acquired on april 10, 2019, july 10, 2019 and october 10, 2019, respectively under the dividend reinvestment feature.
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