Form 4: Raymond C. Pecor III Reports Acquisition of Phantom Stock in Community Financial System, Inc.

Director Raymond C. Pecor III reports acquiring phantom stock equivalent to 395.4608 shares of Community Financial System, Inc. common stock on September 19, 2024.

Summary

• Raymond C. Pecor III, a director of Community Financial System, Inc., filed a Form 4 on September 24, 2024.
• The report details a transaction on September 19, 2024, where Pecor acquired 395.4608 units of phantom stock.
• Each unit of phantom stock is equivalent to one share of Community Bank System, Inc. common stock.
• The phantom stock was acquired under a Deferred Compensation Plan and will be settled in Community Bank System, Inc. common stock at future dates selected by Pecor.
• Following the transaction, Pecor directly owns 7,881.7217 shares of phantom stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of a transaction related to a deferred compensation plan. While insider buying can be seen as positive, it's part of a pre-existing arrangement.

Positives

• The acquisition of phantom stock by a director could be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The phantom stock will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a director's continued investment in the company through a deferred compensation plan.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider activity.

Key Dates