SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
Lemchak Joseph Jonathon

(Last) (First) (Middle)
C/O COMMUNITY BANK SYSTEM, INC.
5790 WIDEWATERS PARKWAY

(Street)
DEWITT NY 13214

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
02/17/2021
3. Issuer Name and Ticker or Trading Symbol
COMMUNITY BANK SYSTEM, INC. [ CBU ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SVP, Chief Investment Officer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 1,789 D
Common Stock 3,163.9034 I 401(k) Plan(1)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (2) 03/16/2026 Common Stock 793 38.02 D
Stock Option (3) 03/15/2027 Common Stock 925 57.12 D
Stock Option (4) 03/20/2029 Common Stock 1,812 59.41 D
Stock Option (5) 03/17/2030 Common Stock 3,007 51.64 D
Stock Option (6) 03/20/2028 Common Stock 1,456 55.92 D
Explanation of Responses:
1. The number of shares reported herein acquired pursuant to Community Bank System, Inc.'s 401(k) Plan and are based on a current plan statement.
2. The option vests ratably on March 16, 2017, 2018, 2019, 2020 and 2021.
3. The option vests ratably on March 15, 2018, 2019, 2020, 2021 and 2022.
4. The option vests ratably on March 20, 2020, 2021, 2022, 2023 and 2024.
5. The option vests ratably on March 17, 2021, 2022, 2023, 2024 and 2025.
6. The option vests ratably on March 20, 2019, 2020, 2021, 2022 and 2023.
Marguerite K. Geiss, pursuant to a Confirming Statement executed by Joseph J. Lemchak 02/22/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.