Vaccaro John A 4

What Happened

• John A. Vaccaro, a director of Community Financial System, Inc. (CBU), was granted 314.692 units of phantom stock on 2026-03-19. The grant is recorded at $55.61 per unit, for a total reported value of $17,500. This filing reports an award/grant (derivative) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-19; grant price/value: $55.61 per unit; total value: $17,500.
• Amount granted: 314.692 phantom stock units (derivative award, code A).
• Shares owned after transaction: not specified in the filing.
• Footnote: Each phantom unit equals the economic equivalent of one common share. Units under the Deferred Compensation Plan for Directors (DCP for Directors) will be settled in common stock at future dates selected by the reporting person.
• Filing timing: Form 4 lists the same transaction and report date (2026-03-19), indicating a timely report.

Context

• Phantom stock units are a form of deferred compensation tied to the company’s common stock value; they do not represent immediate open-market buying and therefore should be viewed as compensation rather than a direct bullish market signal. Settlement will convert these units into actual shares at future dates per the director’s election.