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COMMUNITY FINANCIAL SYSTEM (CBU) director receives 1,220 phantom stock units award

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

COMMUNITY FINANCIAL SYSTEM, INC. director Mark J. Bolus received an award of 1,220 phantom stock (deferred stock) units tied to the company’s common stock. These units, granted under the 2022 Long-Term Incentive Plan, are the economic equivalent of common shares and will be settled in stock at a predetermined date.

After this grant, Bolus holds 3,758.2915 phantom stock units. He also holds 106,250.833 shares of common stock directly, plus additional indirect holdings through trusts, some of which include shares acquired through the company’s dividend reinvestment plan.

Positive

  • None.

Negative

  • None.

Insights

Director received routine phantom stock award; no open-market trading.

Director Mark J. Bolus acquired 1,220 phantom stock units as a grant under the long-term incentive plan. These units mirror the value of common shares and are settled in stock later, aligning his compensation with shareholder outcomes without immediate cash cost to the company.

The filing also lists existing direct and trust-held common stock positions, including amounts accumulated through the dividend reinvestment plan. There are no reported open-market purchases or sales, so the activity appears routine and compensation-related rather than a signal of changed sentiment.

Insider Bolus Mark J.
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock (Deferred Stock Units) 1,220 $0.00 --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Phantom Stock (Deferred Stock Units) — 3,758.292 shares (Direct); Common Stock — 106,250.833 shares (Direct); Common Stock — 8,130.863 shares (Indirect, By Mark Bolus Trust)
Footnotes (1)
  1. Includes 2,423.134 shares acquired pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan. Includes 275.879 shares acquired pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan. Includes 188.405 shares acquired pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan. 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. Includes 19.1578, 21.1856, and 19.4356 units of phantom stock acquired on July 10, 2025, October 10, 2025, and January 12, 2026 under the LTIP's dividend reinvestment feature.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Bolus Mark J.
(Last)(First)(Middle)
C/O COMMUNITY FINANCIAL SYSTEM, INC.
5790 WIDEWATERS PARKWAY
(Street)
DEWITT NEW YORK 13214
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
COMMUNITY FINANCIAL SYSTEM, INC. [ CBU ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock106,250.833(1)D
Common Stock8,130.863(2)IBy Mark Bolus Trust
Common Stock5,938.86(3)IBy Taylor Bolus Trust
Common Stock5,938.86(3)IBy Paige Bolus Trust
Common Stock5,938.86(3)IBy Noah Bolus Trust
Common Stock5,938.86(3)IBy Austin Bolus Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock (Deferred Stock Units)(4)03/17/2026A1,220 (4) (4)Common Stock1,220$03,758.2915(5)D
Explanation of Responses:
1. Includes 2,423.134 shares acquired pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan.
2. Includes 275.879 shares acquired pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan.
3. Includes 188.405 shares acquired pursuant to the Community Financial System, Inc. Dividend Reinvestment Plan.
4. 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.
5. Includes 19.1578, 21.1856, and 19.4356 units of phantom stock acquired on July 10, 2025, October 10, 2025, and January 12, 2026 under the LTIP's dividend reinvestment feature.
/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Mark J. Bolus03/19/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did COMMUNITY FINANCIAL SYSTEM (CBU) report for Mark J. Bolus?

COMMUNITY FINANCIAL SYSTEM reported that director Mark J. Bolus received 1,220 phantom stock units. These are deferred stock units granted as compensation and economically mirror common shares, settling in stock at a predetermined future date rather than through immediate cash or market trades.

What are the phantom stock units granted to CBU director Mark J. Bolus?

The grant consists of 1,220 phantom stock (deferred stock) units under the 2022 Long-Term Incentive Plan. Each unit equals one share of common stock economically and will be settled in actual shares on a set date, functioning as stock-based, non-cash compensation for the director.

How many phantom stock units does Mark J. Bolus hold after this CBU Form 4?

Following the new award, Mark J. Bolus holds 3,758.2915 phantom stock units. These units track the value of COMMUNITY FINANCIAL SYSTEM common stock and are designed to be settled in shares later, reinforcing long-term alignment between the director and other shareholders.

Did Mark J. Bolus buy or sell CBU common stock in the open market?

The Form 4 does not show any open-market buys or sells of common stock. It primarily records a grant of 1,220 phantom stock units and restates direct and trust-held common stock balances, some enhanced through the company’s dividend reinvestment plan.

What are Mark J. Bolus’s direct CBU common stock holdings after the reported transactions?

After the reported activity, Mark J. Bolus directly holds 106,250.833 shares of COMMUNITY FINANCIAL SYSTEM common stock. In addition, he has indirect holdings through several trusts, with some shares in those accounts accumulated via the company’s dividend reinvestment plan.

How are dividend reinvestments reflected in Mark J. Bolus’s CBU holdings?

Footnotes state that certain direct and trust-held positions include shares and phantom units acquired through the company’s Dividend Reinvestment Plan. This means cash dividends were automatically reinvested into additional common stock or phantom units over time instead of being paid out in cash.