Community Financial System (NYSE: CBU) director reports sale and updated holdings

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

COMMUNITY FINANCIAL SYSTEM, INC. director Mark J. Bolus reported an open-market sale of 12,190.833 shares of common stock at $67.00 per share. Following this sale, he directly holds 94,060 shares. The filing also lists indirect holdings through the Taylor, Paige, Noah, Austin, and Mark Bolus Trusts with reported share balances.

Insights

Director makes a single open-market sale while retaining a sizable direct stake.

Director Mark J. Bolus sold 12,190.833 shares of Common Stock at $67.00 per share in an open-market transaction. After this sale, he still directly owns 94,060 shares, indicating the transaction represents only a portion of his disclosed direct position.

The filing also reports indirect ownership through multiple named trusts, each holding several thousand shares as of the same date. No derivative positions are shown, and there is no reference to a Rule 10b5-1 trading plan in the available data, so the timing context cannot be further assessed from this report alone.

Insider Trade Summary

Net Seller: 12,190.833 shares ($816,786)

Net Sell 6 txns

Insider Bolus Mark J.

Role null

Sold 12,190.833 shs ($817K)

Type	Security	Shares	Price	Value
Sale	Common Stock	12,190.833	$67.00	$817K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 94,060 shares (Direct, null); Common Stock — 5,938.86 shares (Indirect, By Austin Bolus Trust)

Footnotes (1)

Key Figures

Shares sold: 12,190.833 shares Sale price: $67.00 per share Direct holdings after sale: 94,060 shares +2 more

5 metrics

Shares sold 12,190.833 shares Open-market sale of Common Stock on June 25, 2026

Sale price $67.00 per share Price for 12,190.833 shares of Common Stock sold

Direct holdings after sale 94,060 shares Total shares following transaction for direct ownership

Sell transactions count 1 transaction Single sell transaction in transactionSummary

Holding entries 5 entries Indirect holdings through multiple named trusts

Key Terms

open-market sale, indirect ownership, Common Stock, transaction code

4 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

""ownership_type": "indirect""

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

transaction code financial

""transaction_code_description": "Sale in open market or private transaction""

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 11:14 AM Accepted by SEC EDGAR 06/29/2026 - 11:13 AM

SEC Form 4

FORM 4

UNITED 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.

333 BUTTERNUT DRIVE

(Street)

SYRACUSE

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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/25/2026		S		12,190.833	D	$67	94,060	D
Common Stock								5,938.86	I	By Austin Bolus Trust
Common Stock								8,130.863	I	By Mark Bolus Trust
Common Stock								5,938.86	I	By Noah Bolus Trust
Common Stock								5,938.86	I	By Paige Bolus Trust
Common Stock								5,938.86	I	By Taylor 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

	/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Mark J. Bolus	06/29/2026
	** Signature of Reporting Person	Date
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 did Mark J. Bolus report in this Form 4 for CBU?

Director Mark J. Bolus reported an open-market sale of 12,190.833 shares of COMMUNITY FINANCIAL SYSTEM, INC. common stock. The shares were sold at $67.00 per share, and he reported updated direct and indirect holdings after the transaction date of June 25, 2026.

How many COMMUNITY FINANCIAL SYSTEM (CBU) shares did the director sell?

The director sold 12,190.833 shares of COMMUNITY FINANCIAL SYSTEM, INC. common stock. This transaction is coded as an open-market or private sale and is the only sell transaction in the filing, according to the summarized transaction counts provided in the report.

At what price were the CBU shares sold in the reported transaction?

The reported sale of COMMUNITY FINANCIAL SYSTEM, INC. common stock was executed at $67.00 per share. This price applies to the 12,190.833 shares sold in the open-market transaction reported for June 25, 2026, by director Mark J. Bolus.

How many COMMUNITY FINANCIAL SYSTEM (CBU) shares does the director hold after the sale?

After the reported sale, the director directly holds 94,060 shares of COMMUNITY FINANCIAL SYSTEM, INC. common stock. This post-transaction balance is disclosed as "total shares following transaction" for his direct ownership in the Form 4 filing.

Does the Form 4 show indirect ownership in CBU through trusts?

Yes, the Form 4 discloses indirect ownership through several trusts, including the Taylor, Paige, Noah, Austin, and Mark Bolus Trusts. Each trust has its own reported share balance, and these positions are classified as indirect ownership in COMMUNITY FINANCIAL SYSTEM, INC. common stock.

Are there any derivative securities reported for the CBU director in this filing?

No derivative securities are listed for the director in this Form 4. The derivativeSummary section is empty, indicating that no options, warrants, or other derivative positions are reported as part of this specific insider transaction disclosure.