Sullivan Michele 4

What Happened

• Michele Sullivan, a director of Community Financial System, Inc. (CBU), was granted 447.312 units of phantom stock (derivative award) on 2026-03-19. The grant is reported at $55.61 per unit, for a total value of approximately $24,875. This is an award (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-03-19; reported on Form 4 filed 2026-03-19.
• Grant details: 447.312 units @ $55.61 each; total value ≈ $24,875. Transaction code: A (award/grant).
• Nature of award: Derivative phantom stock units under the Deferred Compensation Plan for Directors (DCP for Directors).
• Settlement: Per the filing footnote, each phantom unit equals one share of common stock and will be settled in common stock at future dates selected by the reporting person.
• Shares owned after transaction: Not specified in the provided filing summary.
• Timeliness: Filed on the same date reported; no indication in the provided data that the filing was late.

Context

• Phantom stock units are a deferred/derivative form of equity compensation (economic equivalent of shares) and are settled later in common stock—this is not an immediate market buy or sale. Such awards are typically part of director compensation and do not by themselves indicate current trading intent or short-term market sentiment.