Abdo Michael N 4
4 · COMMUNITY FINANCIAL SYSTEM, INC. · Filed Mar 6, 2026
Research Summary
AI-generated summary of this filing
Community Financial (CBU) EVP Michael N. Abdo Receives Award
What Happened Michael N. Abdo, EVP and General Counsel of Community Financial System, Inc. (CBU), had a 2023 three‑year performance‑based restricted stock award vest on March 4, 2026. He was issued 1,948.235 shares (1,752 shares from the award plus 196.2353 shares from dividend reinvestment) at $0.00. To satisfy his tax obligation on the vesting, 707.235 shares were disposed/withheld at $59.87 per share for proceeds of $42,342, leaving 1,241.000 shares net from this award.
Key Details
- Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (appears timely).
- Award type: Performance‑based restricted stock (code A); tax withholding/share surrender (code F).
- Shares granted/vested: 1,948.235 shares at $0.00 acquisition price.
- Shares disposed/withheld for taxes: 707.235 shares at $59.87, proceeds $42,342.
- Net shares retained from this award: 1,241.000 shares.
- Footnotes: Compensation Committee approved vesting at target performance (F1); tax withholding was satisfied by surrender/disposition of shares (F2); some plan‑related shares were acquired under the company 401(k) plan (F3).
- Shares owned after the transaction (total holdings) are not specified in the provided filing.
Context This was a vesting of a performance award rather than an open‑market purchase or an investment decision; the partial disposal was a routine tax withholding/cashless action commonly used to cover tax liabilities on vested awards. The filing shows no indication of late reporting.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-04+1,948.235→ 8,717.235 total - Tax Payment
Common Stock
[F2]2026-03-04$59.87/sh−707.235$42,342→ 8,010 total
- 2,731.407(indirect: By 401(k))
Common Stock
[F3]
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 1,752 shares of common stock under the award and 196.2353 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 were acquired pursuant to Community Financial System, Inc.'s 401(K) Plan and are based on a current plan statement.