Form 4: Director Sally A. Steele Reports Changes in Beneficial Ownership of Community Bank System, Inc. (CBU)

Sally A. Steele, a director of Community Bank System, Inc., filed a Form 4 disclosing changes in her beneficial ownership of the company's common stock and deferred stock units.

Summary

• On March 21, 2024, Sally A. Steele, a director of Community Bank System, Inc. [CBU], reported changes in her beneficial ownership.
• The report details transactions related to common stock and phantom stock (deferred stock units).
• Steele directly owns 33,628 shares of common stock.
• She also indirectly owns 4,585 shares jointly with her brother.
• On March 19, 2024, Steele acquired 1,395 phantom stock units under the company's 2022 Long-Term Incentive Plan.
• These units are the economic equivalent of common stock and will be settled in common stock at a predetermined date.
• Following the reported transactions, Steele beneficially owns 2,597.5975 derivative securities.
• The reporting person's directly owned shares have been reduced by 6.3782 shares to adjust for fractional shares that were reported as acquired by the reporting person but were paid out in cash.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing. It doesn't inherently indicate positive or negative sentiment, but rather provides information about insider transactions.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the director's holdings, which can be of interest to investors.

Stakeholder Impact

• Shareholders may be interested in the changes in beneficial ownership reported by a director.

Key Dates