PATTERSON DAVID CHARLES 4
4 · COMMUNITY BANK SYSTEM INC · Filed Jan 10, 2011
Insider Transaction Report
Form 4
PATTERSON DAVID CHARLES
Director
Transactions
- Exercise/Conversion
Phantom Stock (Deferred Compensation)
2011-01-06−2,126→ 11,144 total→ Common Stock (2,126 underlying) - Exercise/Conversion
Common Stock
2011-01-06+2,126→ 53,184 total
Holdings
- 334(indirect: By Spouse)
Common Stock
Footnotes (3)
- [F1]Each phantom stock unit relating to the Deferred Compensation Plan entitles the reporting person to receive one share of Community Bank System, Inc. common stock. On January 6, 2011, the reporting person's phantom stock units were settled for an equal number of shares and cash for .6291 share at $27.77 per share.
- [F2]Each unit of phantom stock is the economic equivalent of one share of Community Bank System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan will be settled in Community Bank System, Inc. common stock at future dates selected by the reporting person.
- [F3]2,126.6291 phantom stock units were settled for 2,126 shares of common stock and cash for .6291 share at $27.77 per share.