Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 191

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 191
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 terms of the 
 merger agreement. The value is based on a per share price of ESSA common stock of $19.59, which is the average closing market price of ESSA common stock over the five business days following the public announcement of the merger.       |

Membership on the Boards of Directors of CNB and CNB Bank At the effective time of the merger, each of CNB and CNB Bank will appoint Messrs. Olson, Selig and Henning (or, in the event of any such individual’s unavailability, such other person(s) as mutually agreed upon by ESSA and CNB) to serve as members of their respective boards of directors. Messrs. Olson, Selig and Henning must meet the qualifications for directors set forth in the bylaws of CNB and CNB Bank. Messrs. Olson, Selig and Henning will serve on the CNB and CNB Bank boards of directors until the next annual shareholder meeting following their appointment and, at such annual shareholder meeting, the CNB and CNB Bank boards of directors will each nominate Messrs. Olson, Selig and Henning for election to serve the following terms: (i) in the case of Mr. Olson, a three-year term, (ii) in the case of Mr. Henning, a two-year termand (iii) in the case of Mr. Selig, a one-year term.Messrs. Olson, Selig and Henning must meet the qualifications for directors set forth in the bylaws of CNB and CNB Bank. For additional information, see the section entitled “The Merger Agreement—Boards of Directors of CNB and CNB Bank After the Merger” beginning on page 157. 148

Indemnification and Insurance of Directors and Officers

Pursuant to the merger agreement, CNB has agreed that it will indemnify, defend and hold harmless each present and former director and officer of ESSA or ESSA
Bank against any costs, expenses or fees (including reasonable attorneys’ fees), judgments, amounts paid in settlement, fines, penalties, losses, claims, damages or liabilities incurred in connection with any claim, action, suit, proceeding or
investigation, whether civil, criminal, administrative or investigative, and whether formal or informal, arising out of matters existing or occurring at or prior to the effective time of the merger, whether asserted or claimed prior to, at or after
the effective time of the merger, arising in whole