CBU Community Bank System, Inc. - 8-K

Item 5.07

Submission
of Matters to a Vote of Security Holders.

On May 20, 2026, Community Financial System, Inc.
(the “Company”) held its Annual Shareholders Meeting virtually. At the Annual Meeting, the Company’s Shareholders (i) elected
12 Directors, each for a one-year term, (ii) approved on an advisory basis the Company’s executive compensation as set forth
in the proxy statement, and (iii) ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting
firm of the Company for the year ending December 31, 2026.

1.       The
Company’s Shareholders elected 12 individuals to the Board to serve one-year terms, as set forth below:

Name
of Director

Number
of Votes

For

Against

Abstain

Broker
Non-Votes

Mark
J. Bolus

40,020,617

488,590

108,074

5,090,737

Neil
E. Fesette

39,864,573

593,920

158,788

5,090,737

Brenda
M. Hall

40,299,084

279,204

38,993

5,090,737

Dimitar
A. Karaivanov

40,292,552

250,032

74,697

5,090,737

Jeffery
J. Knauss

39,182,068

1,384,863

50,350

5,090,737

Kerrie
D. MacPherson

39,110,529

1,457,481

49,271

5,090,737

John
Parente

38,668,170

1,878,778

70,333

5,090,737

Raymond
C. Pecor, III

39,163,485

1,407,958

45,838

5,090,737

Savneet
Singh

40,220,651

318,640

77,990

5,090,737

Eric
E. Stickels

39,092,718

1,481,480

43,083

5,090,737

Michele P. Sullivan

40,246,624

332,662

37,995

5,090,737

John
A. Vaccaro

40,130,426

431,444

55,411

5,090,737

2.       The
Company’s Shareholders approved, on a non-binding advisory basis, the Company’s executive compensation programs, as described
in the proxy statement, as set forth below:

For

Against

Abstain

Broker Non-Votes

39,052,791

1,367,203

197,287

5,090,737

3.       The
Company’s Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public
accounting firm for the year ending December 31, 2026, as set forth below:

For

Against

Abstain

45,216,738

457,737

33,543