Community Financial (CBU) EVP exercises options and withholds shares for tax

Rhea-AI Filing Summary

Community Financial, Inc. executive vice president and general counsel Michael N. Abdo reported routine equity transactions. On January 30, 2026, he exercised a stock option for 2,287 shares of common stock at $38.02 per share and acquired those shares.

On the same date, 1,763 shares of common stock were withheld at $62.44 per share in a transaction coded “F,” typically used for tax withholding, leaving him with 7,254 directly held shares. He also indirectly holds 2,710.425 shares through Community Financial System, Inc.’s 401(k) plan, based on a current plan statement.

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

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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^*

Abdo Michael N

(Last) (First) (Middle)

C/O COMMUNITY FINANCIAL SYSTEM, INC.

5790 WIDEWATER PARKWAY

(Street)

DEWITT 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026	01/30/2026	M		2,287	A	$38.02	9,017	D
Common Stock	01/30/2026	01/30/2026	F		1,763	D	$62.44	7,254	D
Common Stock								2,710.425	I	By 401(K)(1)

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
Stock Option	$38.02	01/30/2026	01/30/2026	M			2,287	(2)	03/16/2026	Common Stock	2,287	$0	0	D

Explanation of Responses:

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

2. The option vested ratably on March 16, 2017, 2018, 2019, 2020, and 2021.

	/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Michael N. Abdo	02/03/2026
	** 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).
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FAQ

What insider transaction did Community Financial (CBU) report for Michael N. Abdo?

Community Financial reported that EVP and General Counsel Michael N. Abdo exercised a stock option for 2,287 common shares at $38.02 per share. This increased his direct holdings before a separate tax-related share withholding reduced the total.

How many Community Financial (CBU) shares does Michael N. Abdo now hold directly?

After the reported transactions, Michael N. Abdo directly holds 7,254 shares of Community Financial common stock. This figure reflects both the 2,287-share option exercise and the 1,763-share tax withholding transaction reported on January 30, 2026.

What does the tax withholding transaction code “F” mean in the CBU Form 4?

Transaction code “F” indicates shares were withheld to cover taxes from an equity award. In this filing, 1,763 Community Financial common shares were withheld at $62.44 per share, reducing Michael N. Abdo’s direct holdings to 7,254 shares afterward.

How many Community Financial (CBU) shares does Michael N. Abdo hold through the 401(k) plan?

Michael N. Abdo indirectly holds 2,710.425 Community Financial common shares through Community Financial System, Inc.’s 401(k) plan. This amount is based on a current plan statement and is reported as indirect ownership separate from his directly held shares.

What happened to Michael N. Abdo’s Community Financial stock option reported in this Form 4?

The Form 4 shows a stock option for 2,287 shares of Community Financial common stock was exercised on January 30, 2026, at $38.02. Following the exercise, the derivative position shows zero remaining options beneficially owned by Michael N. Abdo.

What is Michael N. Abdo’s role at Community Financial (CBU) in this insider filing?

In this insider filing, Michael N. Abdo is identified as an officer of Community Financial, serving as Executive Vice President and General Counsel. He is not listed as a director or 10% owner, and the Form 4 is filed by him as a single reporting person.