Community Financial System: Director Changes & Officer Compensation
Ticker: CBU · Form: 8-K · Filed: Sep 26, 2024 · CIK: 723188
| Field | Detail |
|---|---|
| Company | Community Financial System, Inc. (CBU) |
| Form Type | 8-K |
| Filed Date | Sep 26, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, officer-compensation
Related Tickers: CFS
TL;DR
CFS board shakeup: McKeon out, D'Amico in. Officer comp details filed.
AI Summary
Community Financial System, Inc. announced on September 25, 2024, the departure of director Robert J. McKeon and the election of new director David M. D'Amico. The company also reported on compensatory arrangements for certain officers. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This is a routine filing detailing board changes and officer compensation, with no immediate financial distress indicated.
Key Players & Entities
- Robert J. McKeon (person) — Departing Director
- David M. D'Amico (person) — Newly Elected Director
- Community Financial System, Inc. (company) — Registrant
- September 25, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from the board of directors?
Robert J. McKeon has departed from the board of directors.
Who has been elected as a new director?
David M. D'Amico has been elected as a new director.
What is the date of the earliest event reported in this 8-K?
The date of the earliest event reported is September 25, 2024.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What other information is provided in this filing besides director changes?
The filing also addresses the election of certain officers and compensatory arrangements of certain officers.
Filing Stats: 754 words · 3 min read · ~3 pages · Grade level 10.6 · Accepted 2024-09-26 17:01:08
Key Financial Figures
- $1.00 — nge on which registered Common Stock, $1.00 par value per share CBU New York Stoc
Filing Documents
- tm2425049d1_8k.htm (8-K) — 31KB
- tm2425049d1_ex99-1.htm (EX-99.1) — 12KB
- image_001.jpg (GRAPHIC) — 5KB
- image_002.jpg (GRAPHIC) — 5KB
- 0001104659-24-103192.txt ( ) — 241KB
- cbu-20240925.xsd (EX-101.SCH) — 3KB
- cbu-20240925_lab.xml (EX-101.LAB) — 34KB
- cbu-20240925_pre.xml (EX-101.PRE) — 22KB
- tm2425049d1_8k_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits 99.1 Press Release, dated September 26, 2024, issued by Community Financial System, Inc. 104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Community Financial System, Inc. By: /s/ Michael N. Abdo Name: Michael N. Abdo Title: Executive Vice President and General Counsel Dated: September 26, 2024 Exhibit Index Exhibit Number Description 99.1 Press Release, dated September 26, 2024, issued by Community Financial System, Inc. 104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)