X0202
4
2008-05-23
0000723188
COMMUNITY BANK SYSTEM INC
CBU
0001279178
PARENTE CHARLES E
356 SEDGWICK COURT
NAPLES
FL
34108
1
0
0
0
Phantom Stock (Deferred Compensation)
2008-05-23
4
A
0
337.4104
23.71
A
Common Stock
337.4104
890.202
D
Each unit of phantom stock is the economic equivalent of one share of Community Bank System, Inc. common stock. The units of phantom stock relating to the Deferred Compensation Plan will be settled in Community Bank System, Inc. common stock at a future date selected by the reporting person.
/s/ Donna J. Drengel, as attorney-in-fact, pursuant to a power of attorney for Charles E. Parente
2008-05-28