STEELE SALLY A 4

What Happened
Sally A. Steele, a director of Community Financial System, Inc. (CBU), had 1,254 phantom (deferred) stock units settled on March 19, 2026. Those units were converted into 1,254 shares of common stock; a fractional .5514 share was paid in cash at $55.61 per share. The stock portion is worth roughly $69.7K and the fractional cash payment adds about $31, for a total settlement value of about $69.8K.

Key Details

• Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (filed within the usual 2 business‑day window).
• Settlement price used for the fractional share: $55.61 per share.
• Shares acquired: 1,254 common shares; fractional .5514 share paid in cash.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: units were "phantom stock" / deferred stock units under the 2022 Long‑Term Incentive Plan (each phantom unit equates economically to one share and is settled in stock at a predetermined date).

Context
This was a settlement of deferred compensation (phantom/deferred stock units), not an open‑market purchase or sale. Such settlements are routine forms of director compensation and do not by themselves indicate the insider is buying or selling stock for trading reasons.