Community Financial (NYSE: CBU) SVP granted RSUs and stock options

Rhea-AI Filing Summary

COMMUNITY FINANCIAL SYSTEM, INC. senior executive Matthew K. Durkee received new equity awards as part of his compensation. On March 17, 2026, he was granted 1,449 restricted stock units, each representing one share of common stock, and a stock option for 5,537 shares at an exercise price of $56.64 per share.

The restricted stock units vest in three equal installments beginning on March 1, 2027, and the option vests in equal annual installments on March 17 of 2027, 2028, 2029, 2030, and 2031, with an expiration date of March 17, 2036. After these awards, Durkee holds 2,858 shares of common stock directly and 9,888.7927 shares indirectly through the company’s 401(k) plan, as reported from 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

OMB APPROVAL

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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^*

Durkee Matthew K

(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)

	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	SVP, Chief Banking Officer		President, Commercial Banking

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								2,858	D
Common Stock								9,888.7927(1)	I	By 401(K)

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		1,449		(3)	(3)	Common Stock	1,449	$0	1,449	D
Stock Option	$56.64	03/17/2026		A		5,537		(4)	03/17/2036	Common Stock	5,537	$0	5,537	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. 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 Matthew K. Durkee	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)

FAQ

What insider transactions did CBU executive Matthew Durkee report on March 17, 2026?

Matthew K. Durkee reported receiving 1,449 restricted stock units and a stock option for 5,537 shares at an exercise price of $56.64 per share. These are compensation-related equity grants, not open-market purchases or sales of COMMUNITY FINANCIAL SYSTEM, INC. common stock.

How do the new restricted stock units granted to CBU’s Matthew Durkee vest?

The 1,449 restricted stock units granted to Matthew K. Durkee vest in three equal installments beginning on March 1, 2027. Each unit represents a contingent right to receive one share of COMMUNITY FINANCIAL SYSTEM, INC. common stock once the vesting conditions are satisfied.

What are the key terms of the stock options granted to CBU executive Matthew Durkee?

Durkee received stock options covering 5,537 shares of COMMUNITY FINANCIAL SYSTEM, INC. common stock at an exercise price of $56.64 per share. The options vest ratably on March 17 in 2027, 2028, 2029, 2030, and 2031, and expire on March 17, 2036.

How many COMMUNITY FINANCIAL SYSTEM (CBU) shares does Matthew Durkee hold after these transactions?

After these transactions, Matthew K. Durkee holds 2,858 shares of COMMUNITY FINANCIAL SYSTEM, INC. common stock directly. He also has 9,888.7927 shares indirectly through the company’s 401(k) plan, based on a current plan statement referenced in the filing’s footnotes.

Were the reported CBU Form 4 transactions open-market buys or sells by Matthew Durkee?

No, the Form 4 shows compensation-related grants, not open-market trades. Durkee acquired restricted stock units and stock options with transaction code “A” for grant or award, and there are no reported open-market purchase (P) or sale (S) transactions in this filing.