CBU officer transfers shares for tax withholding

Community Financial System, Inc. senior vice president and chief accounting officer Deresa Fischer reported a tax-withholding disposition of 357 shares of common stock at $60.55 per share tied to vesting of a restricted stock award.

Rhea-AI Filing Summary

Community Financial System, Inc. senior vice president and chief accounting officer Deresa Fischer reported a tax-withholding disposition of 357 shares of common stock at $60.55 per share tied to vesting of a restricted stock award. After this transaction, she directly holds 5,180.604 shares, with additional indirect holdings through a 401(k) plan and her spouse.

Insider Trade Summary

Exercise Price or Tax Liability: 357 shares

Exercise Price or Tax Liability 3 txns

Insider Durkee Deresa Fischer

Role SVP, Chief Accounting Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	357	$60.55	$22K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 5,180.604 shares (Direct); Common Stock — 646.3122 shares (Indirect, By 401(k)); Common Stock — 218 shares (Indirect, By spouse)

Footnotes (2)

1. F1. Payment of tax liability associated with vesting of restricted stock award.
2. F2. 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.

FAQ

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

What insider transaction did Community Financial System (CBU) report for Deresa Fischer?

Community Financial System reported that SVP and chief accounting officer Deresa Fischer transferred 357 common shares to cover tax withholding on a restricted stock vesting. This reduced her direct shares while avoiding an open-market sale and settling required tax obligations.

Was the Community Financial System (CBU) insider transaction an open-market stock sale?

No, the transaction was a tax-withholding disposition, not an open-market sale. Shares were delivered to satisfy tax liability from a restricted stock award vesting, a common administrative mechanism rather than a discretionary decision to sell shares in the market.

How many Community Financial System (CBU) shares did Deresa Fischer dispose of and at what price?

Deresa Fischer disposed of 357 shares of Community Financial System common stock at a reported price of $60.55 per share. The transfer was used to pay tax liabilities related to a restricted stock award vesting, according to the filing’s transaction code and footnote.

How many Community Financial System (CBU) shares does Deresa Fischer hold after the transaction?

After the tax-withholding disposition, Deresa Fischer directly holds 5,180.604 Community Financial System common shares. She also has indirect ownership of 646.3122 shares through a 401(k) plan and 218 shares held by her spouse, as disclosed in the filing.

What indirect Community Financial System (CBU) share holdings were disclosed for Deresa Fischer?

The filing shows indirect ownership of 646.3122 Community Financial System shares through the company’s 401(k) plan, based on a current plan statement, and 218 shares held by her spouse. These amounts are reported as indirect holdings separate from her directly owned shares.

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

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Accepted by SEC EDGAR 03/04/2026 - 11:59 AM EST 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^*

Durkee Deresa Fischer

(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)

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

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)		357	D	$60.55	5,180.604	D
Common Stock								646.3122	I	By 401(k)(2)
Common Stock								218	I	By spouse

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 Deresa F. Durkee	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.