PATTERSON DAVID CHARLES 4
4 · COMMUNITY BANK SYSTEM INC · Filed Jan 21, 2011
Insider Transaction Report
Form 4
PATTERSON DAVID CHARLES
Director
Transactions
- Other
Phantom Stock (Stock Balance Plan)
2010-12-31+538.19→ 16,783.61 total→ Common Stock (538.19 underlying) - Other
Phantom Stock (Deferred Compensation)
2011-01-10$27.05/sh+117.743$3,185→ 11,261.743 total→ Common Stock (117.743 underlying) - Award
Stock Option
2011-01-19+3,850→ 3,850 totalExercise: $27.36From: 2011-01-19Exp: 2021-01-19→ Common Stock (3,850 underlying)
Footnotes (2)
- [F1]Phantom stock units were acquired on January 10, 2011 under the Deferred Compensation Plan's dividend reinvestment feature. 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.
- [F2]These units were acquired during the 2010 calendar year pursuant to the Stock Balance Plan's dividend reinvestment feature. Each phantom stock unit is the economic equivalent of one share of Community Bank System, Inc. common stock. The phantom stock units relating to the Stock Balance Plan may be settled upon the later of the reporting person's attainment of age 55 or termination of service on Community Bank System, Inc.'s Board of Directors.