Singh Savneet 4

What Happened

• Savneet Singh, a director of Community Financial System, Inc. (CBU), was granted 1,220 phantom stock units (derivative award) on 2026-03-17. The units were granted at $0.00 per unit and represent the economic equivalent of 1,220 shares of common stock; they will be settled in common stock at a future date.

Key Details

• Transaction date and filing: grant dated 2026-03-17; Form 4 filed 2026-03-18 (filed the next day, which is timely).
• Price: $0.00 per unit (award/grant, not a purchase).
• Shares owned after transaction: not specified in the filing.
• Footnotes of note:
  • The phantom units are the economic equivalent of common shares and will be settled in stock under the Deferred Compensation Plan for Directors (DCP for Directors) and the 2022 Long-Term Incentive Plan (LTIP).
  • The grant includes 7.8928 units earned as dividend equivalents under the DCP for Directors and 9.6079 units from the LTIP's dividend reinvestment feature.
• Transaction code: A (award/grant of derivative units).

Context

• These are deferred/phantom stock units (derivative awards), meaning no cash changed hands now and the units will convert to actual shares at predetermined future dates. Such grants are common director compensation and are not the same as an open-market purchase or sale; they are a compensation award rather than an immediate bullish bet or disposition.