{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-078194","form_type":"8-K","ticker":"CBU","cik":"0000723188","company_name":"COMMUNITY FINANCIAL SYSTEM, INC.","filed_at":"2023-07-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.503192+00:00","generated_at":"2026-06-13T12:56:21.691874+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Community Bank System CEO Tryniski retiring Dec 31, 2023; COO Karaivanov named successor effective Jan 1, 2024","bullets":["Mark Tryniski to step down as President & CEO on Dec 31, 2023; will remain a director through Dec 31, 2024 if nominated.","Dimitar Karaivanov, EVP & COO since 2022, becomes President & CEO on Jan 1, 2024 and will be appointed to the Board.","Karaivanov's employment agreement includes base salary of at least $900,000, annual MIP eligibility, and change-in-control severance up to 3x base plus MIP.","Board expands to 13 directors with Karaivanov's appointment."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-078194","json":"https://secwatch.observer/filing/0001104659-23-078194.json","markdown":"https://secwatch.observer/filing/0001104659-23-078194.md","text":"https://secwatch.observer/filing/0001104659-23-078194.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723188/000110465923078194/0001104659-23-078194-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723188/000110465923078194/tm2320605-1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T12:56:21.691874+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"49e1a726b0","claim":"Dimitar A. Karaivanov was appointed as President and Chief Executive Officer at COMMUNITY FINANCIAL SYSTEM, INC..","evidence_excerpt":"The Board of Directors (the “Board”) has selected Dimitar A. Karaivanov, the Company’s Executive Vice President and Chief Operating Officer (“COO”), to succeed Mr. Tryniski effective as of January 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723188/000110465923078194/0001104659-23-078194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"selected"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"92bd314b11","claim":"Dimitar A. Karaivanov was appointed as Director at COMMUNITY FINANCIAL SYSTEM, INC..","evidence_excerpt":"the Board will expand to 13 Directors and appoint Mr. Karaivanov as a Director of the Company and the Bank effective as of January 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723188/000110465923078194/0001104659-23-078194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"e53072ec95","claim":"Mark E. Tryniski departed as President and Chief Executive Officer at COMMUNITY FINANCIAL SYSTEM, INC..","evidence_excerpt":"Mark E. Tryniski will retire as the Company’s President and Chief Executive Officer (“CEO”) effective as of December 31, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723188/000110465923078194/0001104659-23-078194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"retire"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}