Pecor Raymond C III 4

What Happened
Raymond C. Pecor III, a director of Community Financial System, Inc. (CBU), was granted 1,220 units reported as shares at a $0.00 price (derivative award) on March 17, 2026. The Form 4 records these as non-cash phantom stock units—economic equivalents of common shares—that will be settled in common stock at future dates. The filing does not list a post-grant total of shares beneficially owned.

Key Details

• Transaction date: 2026-03-17; transaction type: Grant/Award (derivative units)
• Amount: 1,220 units; reported price: $0.00; reported value: $0
• Ownership after transaction: Not specified in this filing
• Footnotes: Units are phantom stock (each unit = economic equivalent of one common share) and will be settled in common stock at future dates selected by the reporting person. The reporting person disclaims beneficial ownership of certain reported securities. Footnotes also reference prior small unit additions via dividend reinvestment on Jan 12, 2026.
• Timeliness: Form 4 filed 2026-03-19 for a 2026-03-17 transaction (not marked late)

Context
Phantom stock/deferred compensation awards are common for directors and represent future settlement rights rather than immediate open-market purchases. Such grants increase potential future share issuance when settled but do not by themselves signal a buy or sell decision by the insider.