Welcome to our dedicated page for COMMUNITY FINANCIAL SYSTEM SEC filings (Ticker: CBU), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Community Financial System, Inc. filings document a diversified financial services company with banking, employee benefit services, insurance services and wealth management services operations. Its Form 8-K reports furnish operating results, Regulation FD investor presentations, director appointments, bank leadership changes and capital actions, including stock repurchase authorization disclosures.
Proxy materials cover annual meeting procedures, shareholder voting matters, board governance, executive compensation and performance discussion across the company's four business lines. The filing record also identifies Community Bank, N.A. and other operating units as recurring subjects in disclosures about business strategy, governance and capital structure for CBU common stock.
COMMUNITY FINANCIAL SYSTEM, INC. director Neil E. Fesette received a grant of 1,220 units of phantom stock (deferred stock units) on March 17, 2026 under the company’s long-term incentive plan. Each phantom unit is the economic equivalent of one share of common stock and will be settled in stock at a predetermined future date.
After this grant, Fesette holds 8,224.6013 phantom stock units linked to deferred stock units and 7,783.0750 phantom stock units related to deferred compensation, all tied to common stock. He also directly owns 11,270.349 shares of common stock, including amounts acquired through the company’s dividend reinvestment and dividend equivalent features.
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.
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.
COMMUNITY FINANCIAL SYSTEM, INC. director John A. Vaccaro reported receiving a grant of deferred stock units under a director deferred compensation plan. The award covers 314.6916 units of phantom stock, each economically equivalent to one share of common stock, at a reference value of $55.61 per unit.
These deferred compensation units will be settled in Community Financial System, Inc. common stock at future dates selected by Vaccaro. Following this compensation-related acquisition, he holds 314.6916 deferred stock units directly, reflecting a routine, non‑market transaction rather than an open‑market purchase or sale.
Sullivan Michele reported acquisition or exercise transactions in this Form 4 filing.
COMMUNITY FINANCIAL SYSTEM, INC. director Michele Sullivan received a grant of 447.3116 units of deferred stock under a director compensation plan. Each unit is economically equivalent to one share of common stock and will be settled in common shares at future dates she selects. Following this award, her deferred stock balance reported in the plan is 3,530.4560 units, reflecting routine compensation rather than an open-market trade.
Durkee Deresa Fischer reported acquisition or exercise transactions in this Form 4 filing.
Community Financial System, Inc. reported that SVP and Chief Accounting Officer Deresa Fischer Durkee received a grant of 1,812 restricted stock units on Community Financial common stock. Each unit represents a right to one share and vests in three equal installments beginning on March 1, 2027.
After this award, the filing shows 5,180.604 common shares held directly, 218 shares held indirectly by a spouse, and 654.8825 shares held indirectly through the company’s 401(k) plan, as reflected in a current plan statement.
COMMUNITY FINANCIAL SYSTEM, INC. director Mark J. Bolus received an award of 1,220 phantom stock (deferred stock) units tied to the company’s common stock. These units, granted under the 2022 Long-Term Incentive Plan, are the economic equivalent of common shares and will be settled in stock at a predetermined date.
After this grant, Bolus holds 3,758.2915 phantom stock units. He also holds 106,250.833 shares of common stock directly, plus additional indirect holdings through trusts, some of which include shares acquired through the company’s dividend reinvestment plan.
Knauss Jeffery J reported acquisition or exercise transactions in this Form 4 filing.
Community Financial System, Inc. director Jeffery J. Knauss received a grant of 1,220 phantom stock deferred stock units on March 17, 2026 under the company’s 2022 Long-Term Incentive Plan. This increased his deferred stock unit balance to 2,474.5514 units, each economically equivalent to one common share and to be settled in stock at a predetermined date. Footnotes note additional small units, including 9.4706, 10.4729, and 9.6079 phantom stock units credited as dividend equivalents on July 10, 2025, October 10, 2025, and January 12, 2026.
MacPherson Kerrie D. reported acquisition or exercise transactions in this Form 4 filing.
Community Bank System director Kerrie D. MacPherson reported a compensation-related award of 1,220 phantom stock (deferred stock) units. These units were granted at no cash cost under the company’s 2022 Long-Term Incentive Plan and are economically equivalent to common shares, settling in stock at a future predetermined date.
Following this grant, MacPherson now holds 7,630.8867 phantom stock units, reflecting her accumulated deferred equity awards, including prior dividend-equivalent credits. This filing reflects routine equity-based director compensation rather than an open-market stock purchase or sale.
COMMUNITY FINANCIAL SYSTEM, INC. director John Parente received a grant of 1,220 phantom stock units, reported as deferred stock units under the company’s 2022 Long-Term Incentive Plan. Each phantom unit is the economic equivalent of one share of Community Bank System, Inc. common stock and will be settled in common stock at a predetermined date.
After this award, Parente holds a total of 2,474.5514 phantom stock units. Footnotes note that this total includes 9.6079 units acquired earlier through the plan’s dividend reinvestment feature, highlighting that the position can grow over time as dividends are reinvested.