Form 4: Director Neil E. Fesette Reports Changes in Beneficial Ownership of Community Financial System, Inc. (CBU) Stock
SEC Form 4
Neil E. Fesette, a director of Community Financial System, Inc., reports acquisitions of common stock and phantom stock units through dividend reinvestments and a long-term incentive plan.
Summary
- On March 20, 2025, Neil E. Fesette, a director of Community Financial System, Inc. (CBU), filed a Form 4 detailing changes in beneficial ownership.
- The report indicates acquisitions of common stock through the Dividend Reinvestment Plan and phantom stock units under the 2022 Long-Term Incentive Plan.
- Fesette directly owns 10,986.059 shares of common stock.
- He also holds 6,700.7282 units of phantom stock related to a Deferred Compensation Plan and 6,841.1314 units of phantom stock under the Long-Term Incentive Plan.
- On March 18, 2025, Fesette acquired 1,225 deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing, indicating standard insider transactions. It doesn't convey strong positive or negative sentiment.
Positives
- The director's continued participation in the Dividend Reinvestment Plan and Long-Term Incentive Plan demonstrates confidence in the company's future.
Industry Context
Form 4 filings are a standard part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates ongoing participation in company compensation plans.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| April 10, 2024 | Acquisition of 85.436 shares through Dividend Reinvestment Plan and 73.1278 units of phantom stock as dividend equivalents under the Deferred Compensation Plan and 35.5319 units of phantom stock acquired as dividend equivalents under the Plan. |
| July 10, 2024 | Acquisition of 78.792 shares through Dividend Reinvestment Plan and 66.7518 units of phantom stock as dividend equivalents under the Deferred Compensation Plan and 45.4658 units of phantom stock acquired as dividend equivalents under the Plan. |
| October 10, 2024 | Acquisition of 67.829 shares through Dividend Reinvestment Plan and 57.446 units of phantom stock as dividend equivalents under the Deferred Compensation Plan and 39.1283 units of phantom stock acquired as dividend equivalents under the Plan. |
| January 10, 2025 | Acquisition of 64.3948 shares through Dividend Reinvestment Plan and 64.5001 units of phantom stock as dividend equivalents under the Deferred Compensation Plan and 31.3024 units of phantom stock acquired as dividend equivalents under the Plan. |
| March 18, 2025 | Acquisition of 1,225 deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan. |
| March 20, 2025 | Date of Form 4 filing. |
Keywords
beneficial ownership, Form 4, Community Financial System, Inc., CBU, Neil E. Fesette, director, dividend reinvestment plan, phantom stock, deferred compensation, long-term incentive plan
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