$CBU|4Jan 18, 11:39 AM ET

COMMUNITY BANK SYSTEM INC 4

4 · COMMUNITY BANK SYSTEM INC · Filed Jan 18, 2008

Form 4

Period: 2008-01-01

Director

Transactions

Award
Phantom Stock (Stock Balance Plan)
2008-01-16+1,090.78→ 15,891.08 total
→ Common Stock (1,090.78 underlying)
Exercise/Conversion
Deferred Stock (Deferred Compensation)
2008-01-01−411.817→ 4,442.376 total
→ Common Stock (411.817 underlying)
Award
Deferred Stock (Deferred Compensation)
2008-01-16+2,063.367→ 6,505.743 total
→ Common Stock (2,063.367 underlying)
Exercise/Conversion
Common Stock
2008-01-01+411→ 4,308.193 total
Award
Stock Option
2008-01-16+5,457→ 5,457 total
Exercise: $18.09From: 2008-01-16Exp: 2018-01-16→ Common Stock (5,457 underlying)

Footnotes (4)

[F1]Each deferred stock unit entitles the reporting person to receive one share of Community Bank System, Inc. common stock. On January 1, 2008, the reporting person's deferred stock units were settled for an equal number of shares and cash for .8167 shares at $19.87 per share.
[F2]Includes 39.701 shares acquired on October 10, 2007 under the Community Bank System, Inc. Dividend Reinvestment Plan.
[F3]Each deferred stock unit entitles the reporting person to receive one share of Community Bank System, Inc. common stock. Awards relating to the deferred stock units (Deferred Comp. Plan) may be settled upon the reporting person's attainment of age 55.
[F4]Each phantom stock unit is the economic equivalent of one share of Community Bank System, Inc. common stock. Phantom Stock (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.

Documents

1 file