Community Financial director settles 250 deferred shares

Community Financial System, Inc. director Eric Stickels converted deferred compensation into common stock.

Rhea-AI Filing Summary

Community Financial System, Inc. director Eric Stickels converted deferred compensation into common stock. On March 16, 2026, 250 phantom stock units under the company’s long-term incentive plan were settled for 250 shares of common stock, with 0.9119 units settled in cash at $57.42 per share.

After the transaction, Stickels directly held 33,592 shares of common stock and 4,014.5421 phantom stock units. These phantom units, including amounts accrued through dividend reinvestment, each represent the economic value of one share and will be settled in stock at predetermined dates.

Insider Trade Summary

250 shares exercised/converted

Exercise 2 txns

Insider STICKELS ERIC

Role Director

Type	Security	Shares	Price	Value
Exercise	Phantom Stock (Deferred Stock Units)	250	$0.00	$0.00
Exercise	Common Stock	250	$0.00	$0.00

Holdings After Transaction: Phantom Stock (Deferred Stock Units) — 4,014.5421 contracts (Direct); Common Stock — 33,592 shares (Direct)

Footnotes (3)

1. F1. On March 16, 2026, the reporting person's phantom stock units were settled for 250 shares of Community Financial System, Inc. common stock, and .9119 shares were settled in cash at the price of $57.42 per share."
2. F2. 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.
3. F3. Includes 32.1998, 35.6078 and 32.6668 units of phantom stock acquired on July 10, 2025, October 10, 2025 and January 12, 2026 under the Plan's dividend reinvestment feature.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Eric Stickels report on Community Financial System (CBU) shares?

Eric Stickels reported settling 250 phantom stock units into 250 shares of Community Financial System common stock. An additional 0.9119 unit was settled in cash at $57.42 per share, reflecting routine conversion of deferred compensation, not an open-market purchase or sale.

How many Community Financial System (CBU) shares does Eric Stickels hold after this Form 4?

Following the March 16, 2026 settlement, Eric Stickels directly holds 33,592 shares of Community Financial System common stock. He also holds 4,014.5421 phantom stock units, which track the value of the stock and will be settled in shares at predetermined dates.

What are phantom stock (deferred stock units) in the Community Financial System (CBU) LTIP?

Phantom stock units under Community Financial System’s 2022 Long-Term Incentive Plan are deferred stock units, each economically equivalent to one common share. They do not involve cash purchases and are settled in common stock at predetermined dates as part of long-term compensation.

Was this Community Financial System (CBU) insider transaction a market buy or sell?

The filing shows an exercise or conversion of derivative securities, not a market buy or sell. Phantom stock units were settled into 250 common shares and a small cash amount, reflecting compensation-related settlement rather than trading on the open market.

What cash component was involved in Eric Stickels’ Community Financial System (CBU) phantom stock settlement?

In addition to 250 shares issued, 0.9119 phantom stock units were settled in cash at $57.42 per share. This represents a minor cash portion of the overall deferred compensation settlement under the long-term incentive plan’s terms.

How do dividend reinvestments affect Eric Stickels’ phantom stock units at Community Financial System (CBU)?

Footnotes indicate 32.1998, 35.6078 and 32.6668 phantom units were added on specific 2025 and 2026 dates through the plan’s dividend reinvestment feature. These increments increase deferred units in line with dividends, enhancing long-term incentive alignment with common shareholders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/17/2026 - 03:33 PM Learn about SEC filing dates

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^*

STICKELS ERIC

(Last) (First) (Middle)

C/O COMMUNITY FINANCIAL SYSTEM, INC.

333 BUTTERNUT DRIVE

(Street)

SYRACUSE NY 13214

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/16/2026		M		250	A	(1)	33,592	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock (Deferred Stock Units)	(2)	03/16/2026		M			250	(2)	(2)	Common Stock	250	(1)	4,014.5421(3)	D

Explanation of Responses:

1. On March 16, 2026, the reporting person's phantom stock units were settled for 250 shares of Community Financial System, Inc. common stock, and .9119 shares were settled in cash at the price of $57.42 per share."

2. 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.

3. Includes 32.1998, 35.6078 and 32.6668 units of phantom stock acquired on July 10, 2025, October 10, 2025 and January 12, 2026 under the Plan's dividend reinvestment feature.

	Danielle M. Cima, pursuant to a Confirming Statement executed by Eric E. Stickels	03/17/2026
	** 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.
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