Community Financial director granted stock units
A CBU director reported a new equity-based deferred stock award, increasing her reported deferred and phantom stock unit holdings tied to common stock.
Rhea-AI Filing Summary
COMMUNITY FINANCIAL SYSTEM, INC. (symbol: CBU) is the issuer of record for a Form 4 filing submitted to the SEC. Sullivan Michele reported acquisition or exercise transactions in this Form 4 filing.
COMMUNITY FINANCIAL SYSTEM, INC. (CBU) director Michele Sullivan reported receiving a grant of 396.288 units of Deferred Stock (Deferred Compensation) on September 17, 2026, each economically equivalent to one share of common stock, at a reference value of $62.77 per unit. Following this award, she holds 4,381.1476 deferred stock units tied to the company’s common stock and a separate position of 4,001.0493 phantom stock units under the company’s long-term and director deferred compensation plans. No Rule 10b5-1 trading plan is reported for these awards.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 396.288 shares
Grant/Award
2 txns
Insider
Sullivan Michele
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Deferred Stock (Deferred Compensation) F3, F4 | 396.288 | $62.77 | $25K |
| holding | Phantom Stock (Deferred Stock Units) F1, F2 | -- | -- | -- |
Holdings After Transaction:
Deferred Stock (Deferred Compensation) — 4,381.1476 contracts (Direct);
Phantom Stock (Deferred Stock Units) — 4,001.0493 contracts (Direct)
Footnotes (4)
- F1. The reporting person has received deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan, as amended (the "LTIP"). Each phantom stock unit which represents a deferred stock unit is the economic equivalent of one share of Community Financial System, Inc. common stock and will be settled in common stock at a predetermined date.
- F2. Includes 27.9627 units of phantom stock acquired as dividend equivalents on July 10, 2026 under the LTIP.
- F3. Each unit of phantom stock is the economic equivalent of one share of Community Financial System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan for Directors (the "DCP for Directors"), will be settled in Community Financial System, Inc. common stock at future dates selected by the reporting person.
- F4. Includes 25.0107 units of phantom stock acquired on July 10, 2026 as dividend equivalents under the DCP for Directors.
Key Figures
Deferred stock units granted: 396.288 units
Reference value per deferred stock unit: $62.77 per unit
Deferred stock units after transaction: 4,381.1476 units
+3 more
6 metrics
Deferred stock units granted
396.288 units
Deferred Stock (Deferred Compensation) grant on September 17, 2026
Reference value per deferred stock unit
$62.77 per unit
Value associated with the September 17, 2026 deferred stock grant
Deferred stock units after transaction
4,381.1476 units
Deferred Stock (Deferred Compensation) units outstanding after the grant
Phantom stock units outstanding
4,001.0493 units
Phantom Stock (Deferred Stock Units) economically equivalent to CBU common stock
Dividend-equivalent phantom units under LTIP
27.9627 units
Acquired as dividend equivalents on July 10, 2026 under the LTIP
Dividend-equivalent phantom units under DCP for Directors
25.0107 units
Acquired as dividend equivalents on July 10, 2026 under the DCP for Directors
Key Terms
Deferred Stock (Deferred Compensation), Phantom Stock (Deferred Stock Units), economic equivalent, Long-Term Incentive Plan, +1 more
5 terms
Deferred Stock (Deferred Compensation) financial
"The reporting person has received deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan"
Phantom Stock (Deferred Stock Units) financial
"Each phantom stock unit which represents a deferred stock unit is the economic equivalent"
economic equivalent financial
"Each phantom stock unit which represents a deferred stock unit is the economic equivalent of one share"
Long-Term Incentive Plan financial
"under the Community Financial System, Inc. 2022 Long-Term Incentive Plan, as amended (the "LTIP")"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
Deferred Compensation Plan for Directors financial
"The units of phantom stock relating to the Deferred Compensation Plan for Directors (the "DCP for Directors")"
A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CBU director Michele Sullivan report on this Form 4?
She reported a grant of 396.288 Deferred Stock (Deferred Compensation) units on September 17, 2026, each economically equivalent to one share of COMMUNITY FINANCIAL SYSTEM, INC. common stock, as part of the company’s compensation and deferral arrangements for directors.
How many deferred stock units tied to CBU common stock does Michele Sullivan hold after the transaction?
After the September 17, 2026 grant, Michele Sullivan holds 4,381.1476 units of Deferred Stock (Deferred Compensation), each economically equivalent to one share of COMMUNITY FINANCIAL SYSTEM, INC. common stock and to be settled in common stock at future dates.
Does COMMUNITY FINANCIAL SYSTEM, INC. (CBU) note any Rule 10b5-1 trading plan for this Form 4 filing?
No. The filing’s Rule 10b5-1 checkbox is not marked as affirmative, so no Rule 10b5-1 trading plan is reported in connection with the transactions and holdings disclosed on this Form 4.
What is the economic relationship between CBU phantom stock units and common stock?
Each phantom stock unit is described as the economic equivalent of one share of COMMUNITY FINANCIAL SYSTEM, INC. common stock and will be settled in common stock at future dates selected or predetermined under the applicable deferred compensation plans.
Were any dividend-equivalent phantom stock units reported for CBU in this Form 4?
Yes. The filing states that holdings include 27.9627 phantom stock units acquired as dividend equivalents under the long-term incentive plan and 25.0107 phantom stock units acquired as dividend equivalents under the Deferred Compensation Plan for Directors, both on July 10, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
