Form 4: Michele Sullivan Acquires Community Bank System Stock Through Deferred Compensation Plan
SEC Form 4 Filing
Director Michele Sullivan acquired 271.8573 shares of Community Bank System, Inc. common stock through a deferred compensation plan on March 21, 2024.
Summary
- On March 21, 2024, Michele Sullivan, a director of Community Bank System, Inc., acquired 271.8573 shares of common stock.
- The acquisition was made through a deferred compensation plan.
- Each unit of phantom stock is equivalent to one share of Community Bank System, Inc. common stock.
- The price per share was $45.98.
- The phantom stock will be settled in Community Bank System, Inc. common stock at future dates selected by Sullivan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a stock transaction, indicating a neutral sentiment.
Future Outlook
The units of phantom stock relating to the Deferred Compensation Plan will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.
Industry Context
This Form 4 filing is a routine disclosure of a company director's stock acquisition, which is common in the financial industry as part of executive compensation packages.
Stakeholder Impact
- The transaction may have a minor positive impact on shareholder confidence as it shows a director's continued investment in the company.
Key Dates
| Date | Description |
|---|---|
| 03/21/2024 | Date of transaction: Michele Sullivan acquired shares through deferred compensation. |
| 03/22/2024 | Date of signature on the report. |
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