Community Financial System (CBU) CEO logs tax-withholding stock transaction

Rhea-AI Filing Summary

Community Financial System, Inc.'s President & CEO Dimitar Karaivanov reported a tax-related share disposition. On the vesting of a restricted stock award, 2,501 shares of common stock were withheld at a price of $60.55 per share to cover associated tax liabilities, rather than being sold in the open market.

After this transaction, he directly held 21,258 common shares and indirectly held 3,271.3426 shares through the company’s 401(k) plan based on a current plan statement.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Karaivanov Dimitar

Role President & CEO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	2,501	$60.55	$151K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 21,258 shares (Direct); Common Stock — 3,271.343 shares (Indirect, By 401(k) Plan)

Footnotes (1)

1. Payment of tax liability associated with vesting of restricted stock award. 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.

Form 4 Insider Transactions: What Each Field Means →

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		F(1)		2,501	D	$60.55	21,258	D
Common Stock								3,271.3426	I	By 401(k) Plan(2)

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

Explanation of Responses:

1. Payment of tax liability associated with vesting of restricted stock award.

2. 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.

	/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Dimitar Karaivanov	03/04/2026
	** 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.

FAQ

What insider transaction did Community Financial System (CBU) report for Dimitar Karaivanov?

Community Financial System reported that President & CEO Dimitar Karaivanov had 2,501 common shares withheld to satisfy tax liabilities from a restricted stock vesting. This was coded as a tax-withholding disposition, not an open-market sale, and reflects routine equity compensation activity.

Was the CBU CEO’s Form 4 transaction an open-market stock sale?

The Form 4 shows a tax-withholding disposition, not an open-market sale. 2,501 shares were surrendered at $60.55 per share to cover taxes due on a restricted stock award vesting, meaning the shares were used to pay obligations rather than sold on the market.

How many Community Financial System shares does the CEO hold after this Form 4?

After the reported transaction, Dimitar Karaivanov directly held 21,258 shares of Community Financial System common stock. He also indirectly held 3,271.3426 additional shares through the company’s 401(k) plan, according to a current plan statement referenced in the filing.

What does transaction code F mean in the CBU CEO’s Form 4 filing?

Transaction code F in this Form 4 indicates payment of a tax liability or exercise price by delivering securities. Here, 2,501 shares of Community Financial System common stock were withheld to satisfy taxes tied to a restricted stock award vesting event.

How is the CEO’s 401(k) ownership in Community Financial System reported?

The filing shows indirect ownership of 3,271.3426 shares held through Community Financial System’s 401(k) Plan. This amount is based on a current plan statement and is reported separately from the CEO’s directly held 21,258 shares of common stock.

Does the CBU Form 4 indicate net buying or selling by the CEO?

The transaction summary shows one dispose-type transaction related to tax withholding and one holding entry with unknown direction. There were no classified open-market buys or sells, resulting in a neutral net buy/sell direction in the Form 4 summary data.