COMMUNITY BANK SYSTEM INC 4
4 · COMMUNITY BANK SYSTEM INC · Filed Feb 2, 2009
Insider Transaction Report
Form 4
DEMPSEY WILLIAM M
Director
Transactions
- Exercise/Conversion
Phantom Stock (Deferred Compensation)
2009-01-01−336→ 9,617.036 total→ Common Stock (336 underlying) - Exercise/Conversion
Common Stock
2009-01-01+336→ 7,394.958 total - Award
Phantom Stock (Stock Balance Plan)
2009-01-29+500.32→ 16,391.4 total→ Common Stock (500.32 underlying) - Award
Phantom Stock (Deferred Compensation)
2009-01-09$22.13/sh+93.921$2,078→ 9,710.957 total→ Common Stock (93.921 underlying)
Footnotes (4)
- [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 1, 2009, the reporting person's phantom stock units were settled for an equal number of shares.
- [F2]Includes 43.664 shares acquired on January 9, 2009 under the Community Bank System, Inc. Dividend Reinvestment Plan.
- [F3]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.
- [F4]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.