Edgar Filing: GULOTTY DOUGLAS C

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

GULOTTY DOUGLAS C

2. Issuer Name and Ticker or Trading Symbol
Wilber CORP [GIW]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President & CEO

(Last)

(First)

(Middle)

C/O THE WILBER CORPORATION, 245 MAIN STREET

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2008

(Street)

ONEONTA, NY 13820

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Phantom Stock Units	07/30/2008	07/30/2008	M		6,008	A	⁽¹⁾	6,911	I	By Deferred Comp Plan ⁽³⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Phantom Stock Units

$ 8.09

07/30/2008⁽²⁾

07/30/2008

6,008

⁽³⁾

Phantom Stock Units

6,008

$ 0

6,911

By Deferred Comp Plan ⁽⁴⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
GULOTTY DOUGLAS C C/O THE WILBER CORPORATION 245 MAIN STREET ONEONTA, NY 13820			President & CEO

Signatures

/s/ Douglas C. Gulotty		08/01/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This acquisition was executed in connection with a transfer of current deferred amounts within Mr. Gulotty's account from other investment types to phantom units at the exercised price indicated on column 2, Table II of this Form 4.
(2)	Mr. Gulotty's request to acquire phantom units at the prevailing market price of the date of execution was obtained on May 21, 2008, but was not transacted until July 30, 2008 to comply with all applicable provisions on the Company's plan and relevant laws.
(3)	Pursuant to the Company's Deferred Compensation Plan established in 1985, as amended in 1999, executive officers may defer portions of their compensation and deferred amounts can be indexed to the financial performance of the Company's common stock, although no actual shares of stock are purchased (thus, "phantom stock"). Increases and decreases in the deferred amounts are determined based upon changes in the trading price of the Company's stock for existing phantom units. The executive officer does not have any right against the Company with respect to any portion of the account, except as a general unsecured creditor. The participant may withdraw funds upon the termination of his employment, retirement or in the event of financial hardship, and the value of such phantom stock units would be based upon the current market value of the Company's stock.
(4)	The Company's Deferred Compensation Plan was frozen in 2004. Under the frozen plan, the reporting person was no longer permitted to defer portions of his compensation into the plan. However, transfers from or to phantom units for current deferred balances within the plan are permitted. In addition, phantom stock units can also be acquired by the reporting person through the allocation of dividend payments on existing units under the Company's Deferred Compensation Plan.

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