STEELE SALLY A 4
4 · COMMUNITY FINANCIAL SYSTEM, INC. · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
Community Financial (CBU) Director Sally Steele Receives 1,254 Shares
What Happened
Sally A. Steele, a director of Community Financial System, Inc. (CBU), had 1,254 phantom (deferred) stock units settled on March 19, 2026. Those units were converted into 1,254 shares of common stock; a fractional .5514 share was paid in cash at $55.61 per share. The stock portion is worth roughly $69.7K and the fractional cash payment adds about $31, for a total settlement value of about $69.8K.
Key Details
- Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (filed within the usual 2 business‑day window).
- Settlement price used for the fractional share: $55.61 per share.
- Shares acquired: 1,254 common shares; fractional .5514 share paid in cash.
- Shares owned after transaction: not disclosed in the filing.
- Footnotes: units were "phantom stock" / deferred stock units under the 2022 Long‑Term Incentive Plan (each phantom unit equates economically to one share and is settled in stock at a predetermined date).
Context
This was a settlement of deferred compensation (phantom/deferred stock units), not an open‑market purchase or sale. Such settlements are routine forms of director compensation and do not by themselves indicate the insider is buying or selling stock for trading reasons.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-19+1,254→ 41,218 total - Exercise/Conversion
Phantom Stock (Deferred Stock Units)
[F2][F1]2026-03-19−1,254→ 1,230.764 total→ Common Stock (1,254 underlying)
- 4,585(indirect: Joint with brother)
Common Stock
Footnotes (2)
- [F1]On March 19, 2026, the reporting person's phantom stock units were settled for 1,254 shares of Community Financial System, Inc. common stock, and .5514 shares were settled in cash at the price of $55.61 per share.
- [F2]The reporting person has received deferred stock units under the Community Financial System, Inc. 2022 Long-Term Incentive Plan, as amended (the "LTIP"). Each phantom stock unit which represents a deferred stock unit is the economic equivalent of one share of Community Financial System, Inc. common stock and will be settled in common stock at a predetermined date.