Form 4: Community Bank System, Inc. Executive Acquires Shares and Stock Options
SEC Form 4
Jeffrey M. Levy, SVP & Chief Banking Officer of Community Bank System, Inc., reports acquisition of common stock and stock options.
Summary
- On March 19, 2024, Jeffrey M. Levy, SVP & Chief Banking Officer of Community Bank System, Inc., acquired 1,650 shares of common stock at $0 and 5,916 stock options with an exercise price of $44.27.
- Following the transaction, Levy directly owns 7,674.6389 shares of common stock and indirectly owns 4,210.6389 shares through a 401(k) plan.
- The stock options vest ratably from March 19, 2025, to March 19, 2029, and expire on March 19, 2034.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard insider transaction disclosure. The acquisition of shares and options could be seen as a slightly positive sign, but it's not a major event.
Positives
- The acquisition of shares and stock options by a high-ranking officer could be interpreted as a positive signal, indicating confidence in the company's future performance.
Industry Context
Insider transactions are closely monitored as they can provide insights into management's perspective on the company's valuation and future prospects. This filing is a routine disclosure required by the SEC.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 03/19/2024 | Date of transaction: acquisition of common stock and stock options. |
| 03/19/2025 | First vesting date for stock options (ratably over five years). |
| 03/19/2026 | Second vesting date for stock options (ratably over five years). |
| 03/19/2027 | Third vesting date for stock options (ratably over five years). |
| 03/19/2028 | Fourth vesting date for stock options (ratably over five years). |
| 03/19/2029 | Fifth vesting date for stock options (ratably over five years). |
| 03/19/2034 | Expiration date for stock options. |
| 03/21/2024 | Date of signature on the report. |
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