Karaivanov Dimitar 4

4 · COMMUNITY FINANCIAL SYSTEM, INC. · Filed Mar 6, 2026

AI-generated summary of this filing

Updated Mar 6, 2026

Community Financial (CBU) CEO Dimitar Karaivanov Receives Award

What Happened

Dimitar Karaivanov, President & CEO and a director of Community Financial System, Inc. (CBU), had a 2023 three‑year performance-based restricted stock award vest on 2026-03-04. He received 5,224.206 shares (no cash cost). To satisfy the related tax liability, 2,825.206 of those shares were withheld at an effective price of $59.87 per share, generating roughly $169,145 in tax withholding. Net new shares retained from the vesting = 5,224.206 − 2,825.206 = 2,399.000 shares.

Key Details

Transaction dates: 2026-03-04 (vesting and tax withholding); Form 4 filed 2026-03-06.
Transaction types/codes: A = Award/Grant (5,224.206 shares @ $0.00); F = Tax withholding (2,825.206 shares disposed @ $59.87, $169,145).
Source of award: Three‑year performance-based restricted stock award granted in 2023; consisted of 4,698 shares from the award plus 526.2062 shares from dividend reinvestment under the 2022 Long-Term Incentive Plan (footnote).
Reason for F transaction: Shares surrendered to pay tax liability on vesting (footnote).
Shares owned after the transactions: Not disclosed in the provided filing excerpts.
Filing timeliness: Transaction date 3/4/2026, Form 4 filed 3/6/2026 — appears timely (no late filing flag).

Context

This was a vesting of performance shares (not an open‑market purchase or option exercise). The F code simply reflects shares withheld/retained to cover taxes, a common administrative step following equity vesting and not necessarily a signal of market sentiment.

Form 4

Period: 2026-03-04

DirectorPresident & CEO

Transactions

Award
Common Stock
[F1]
2026-03-04+5,224.206→ 26,482.206 total
Tax Payment
Common Stock
[F2]
2026-03-04$59.87/sh−2,825.206$169,145→ 23,657 total

Holdings

Footnotes (3)

[F1]On March 4, 2026, the Compensation Committee approved the vesting of the three-year performance-based restricted stock award, granted to the reporting person in 2023, based on achievement of predetermined performance criteria at the target level. The reporting person received 4,698 shares of common stock under the award and 526.2062 shares of common stock acquired under the dividend reinvestment feature of the Community Financial System, Inc. 2022 Long-Term Incentive Plan, as amended (the "Plan").
[F2]Payment of tax liability associated with vesting of performance stock award.
[F3]The number of shares reported herein acquired pursuant to Community Financial System, Inc.'s 401(k) Plan and are based on a current plan statement.

Signature

/s/ Danielle M. Cima, pursuant to a Confirming Statement executed by Dimitar Karaivanov|2026-03-06

1 file