Durkee Matthew K 4

What Happened

• Matthew K. Durkee, Senior Vice President and Chief Banking Officer (President, Commercial Banking) at Community Financial System, Inc. (CBU), was credited with two awards on March 17, 2026: 1,449 shares credited under the company's 401(k) plan and 5,537 restricted stock units (RSUs). Both items were reported at $0.00 (no cash paid). Combined, the awards total 6,986 shares or share-equivalents. The RSUs are derivative awards that represent contingent rights to receive common shares in the future.

Key Details

• Transaction date: March 17, 2026; Form 4 filed March 19, 2026 (filed two days later; appears timely).
• Transaction type/code: A = Grant, award or other acquisition; price reported $0.00.
• Shares awarded: 1,449 (401(k) plan) and 5,537 (RSUs) — total 6,986.
• Footnotes of note:
  • F1: 1,449 shares were acquired pursuant to the company 401(k) Plan and reflect the current plan statement.
  • F2: Each RSU equals a contingent right to one share.
  • F3: RSUs vest in three equal installments beginning March 1, 2027.
  • F4: The filing also notes an option that vests ratably on March 17 of 2027–2031.
• Shares owned after the transaction are not specified in the provided filing excerpt.

Context

• RSUs are derivative awards that convert to actual shares only as they vest; these awards do not indicate an immediate open-market purchase or sale. Awards and 401(k) plan credits are common forms of compensation and benefit reporting and are not direct buy/sell signals. The filing shows no sale or cashless exercise tied to these grants.