Community Financial CEO receives equity grants

Community Financial System, Inc. President & CEO Dimitar Karaivanov received new equity awards.

Rhea-AI Filing Summary

Community Financial System, Inc. President & CEO Dimitar Karaivanov received new equity awards. On March 17, 2026, he was granted 6,277 restricted stock units, each representing a contingent right to receive one share of common stock. These units vest in three equal installments beginning March 1, 2027.

He also received stock options on 23,984 shares of common stock at an exercise price of $56.64 per share, expiring on March 17, 2036. The options vest ratably on March 17 of 2027, 2028, 2029, 2030 and 2031. Following these awards, he holds 23,657 common shares directly and 3,303.5335 shares indirectly through the company’s 401(k) plan.

Insider Trade Summary

Grant/Award: 30,261 shares

Grant/Award 4 txns

Insider Karaivanov Dimitar

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	6,277	$0.00	$0.00
Grant/Award	Stock Option	23,984	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 6,277 contracts (Direct); Stock Option — 23,984 contracts (Direct); Common Stock — 23,657 shares (Direct); Common Stock — 3,303.5335 shares (Indirect, By 401(k) Plan)

Footnotes (4)

1. F1. The number of shares reported herein acquired pursuant to Community Financial System, Inc.'s 401(k) Plan and are based on a current plan statement.
2. F2. Each restricted stock unit represents a contingent right to receive one share of Community Financial System, Inc. common stock.
3. F3. The restricted stock units vest in three equal installments beginning March 1, 2027.
4. F4. The option vests ratably on March 17, 2027, 2028, 2029, 2030, and 2031.

FAQ

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

What equity awards did Community Financial (CBU) CEO Dimitar Karaivanov receive?

Dimitar Karaivanov received 6,277 restricted stock units and stock options on 23,984 shares. The RSUs each convert into one common share, while the options give him the right to buy shares at a fixed price if they vest and are exercised.

How do the new restricted stock units for CBU’s CEO vest?

The 6,277 restricted stock units vest in three equal installments starting March 1, 2027. Each vested unit represents one share of Community Financial common stock, aligning the CEO’s compensation with long-term company performance over multiple years.

What are the key terms of the stock options granted to CBU’s CEO?

The CEO received stock options on 23,984 common shares at an exercise price of $56.64 per share. These options vest in equal portions on March 17 of 2027, 2028, 2029, 2030 and 2031, and expire on March 17, 2036.

How many Community Financial (CBU) shares does the CEO hold after these grants?

After the reported grants, the CEO directly holds 23,657 shares of Community Financial common stock. He also has an indirect position of 3,303.5335 shares through the company’s 401(k) plan, based on a current plan statement.

Are the new Community Financial (CBU) CEO grants open-market share purchases?

No. The filing shows grant or award acquisitions, not open-market purchases. The restricted stock units and options are compensation-related awards with vesting schedules, rather than shares bought or sold on the market by the CEO.

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

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Accepted by SEC EDGAR 03/19/2026 - 12:15 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^*

Karaivanov Dimitar

(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
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock								23,657	D
Common Stock								3,303.5335(1)	I	By 401(k) Plan

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
Restricted Stock Units	(2)	03/17/2026		A		6,277		(3)	(3)	Common Stock	6,277	$0	6,277	D
Stock Option	$56.64	03/17/2026		A		23,984		(4)	03/17/2036	Common Stock	23,984	$0	23,984	D

Explanation of Responses:

1. The number of shares reported herein acquired pursuant to Community Financial System, Inc.'s 401(k) Plan and are based on a current plan statement.

2. Each restricted stock unit represents a contingent right to receive one share of Community Financial System, Inc. common stock.

3. The restricted stock units vest in three equal installments beginning March 1, 2027.

4. The option vests ratably on March 17, 2027, 2028, 2029, 2030, and 2031.

	/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Dimitar Karaivanov	03/19/2026
	** 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)