Knauss Jeffery J 4

What Happened Jeffery J. Knauss, a director of Community Financial System, Inc. (CBU), was granted 1,220 deferred stock units (phantom stock units) on 2026-03-17. The units were recorded at $0.00 per unit (award/grant), so there was no cash purchase; these are derivative awards that will be settled in common stock at a predetermined future date under the company's 2022 Long-Term Incentive Plan (LTIP).

Key Details

• Transaction date: 2026-03-17. Form 4 filed 2026-03-19 (filing does not indicate lateness).
• Transaction type/code: Award/Grant (A). Price reported: $0.00; total immediate cash value: $0.
• Amount received: 1,220 phantom deferred stock units. Footnote disclosure adds 29.5514 additional phantom units received as dividend equivalents (9.4706 on 7/10/2025, 10.4729 on 10/10/2025, and 9.6079 on 1/12/2026) included in the award.
• Shares owned after the transaction: not specified in the filing.
• These units are derivatives (phantom stock) that represent the economic equivalent of one share each and will be settled in common stock on a set future date per the LTIP.

Context

• This is a compensation award (deferred stock units), not an open-market purchase or sale. Such grants are routine executive/director compensation and do not by themselves indicate insider buying or selling sentiment.
• For retail investors: treat this as a non-cash equity compensation event that increases potential future share dilution when settled in stock.