Community Bank System elects Dimitar Karaivanov to board; authorizes 2.7M share repurchase program

COMMUNITY FINANCIAL SYSTEM, INC.

Dimitar Karaivanov, currently EVP/COO, elected to Board effective Jan 1, 2024; will become President and CEO on same date.
Karaivanov will serve on the Risk Committee of the Company and Community Bank, N.A.
Board approved stock repurchase program for up to 2,697,000 shares during twelve months starting Jan 1, 2024.
New program replaces existing authorization expiring Dec 31, 2023; 607,161 shares repurchased year-to-date.

item 5.02 item 8.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Dimitar Karaivanov

President and Chief Executive Officer

CBU · COMMUNITY FINANCIAL SYSTEM, INC.

Effective: 2024-01-01
Filed: December 22, 2023, 6:59 PM ET

Mr. Karaivanov’s election to the Board is part of the previously announced succession plan in which Mr. Karaivanov will assume the role of President and Chief Executive Officer of the Company and the Bank effective as of January 1, 2024.

Appointed

Dimitar Karaivanov

Director

CBU · COMMUNITY FINANCIAL SYSTEM, INC.

Effective: 2024-01-01
Filed: December 22, 2023, 6:59 PM ET

elected Dimitar Karaivanov, the Company’s Executive Vice President and Chief Operating Officer (“COO”), to serve as a Director of the Company and its wholly-owned subsidiary, Community Bank, N.A. (the “Bank”), effective as of January 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Dimitar Karaivanov changed role as President and Chief Executive Officer at COMMUNITY FINANCIAL SYSTEM, INC..

Action: assume the role
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Karaivanov’s election to the Board is part of the previously announced succession plan in which Mr. Karaivanov will assume the role of President and Chief Executive Officer of the Company and the Bank effective as of January 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Dimitar Karaivanov was elected as Director at COMMUNITY FINANCIAL SYSTEM, INC..

Action: elected
Role: Director

Exact text from the filing

elected Dimitar Karaivanov, the Company’s Executive Vice President and Chief Operating Officer (“COO”), to serve as a Director of the Company and its wholly-owned subsidiary, Community Bank, N.A. (the “Bank”), effective as of January 1, 2024.

View on SEC.gov

COMMUNITY FINANCIAL SYSTEM, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-128869

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.