Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 70

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 70
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 by virtue of his executive service and business and community involvement in the CNB market, brings meaningful corporate governance experience to the CNB Board of Directors.

Richard B. Seager has over 30 years of experience in health care administration, consulting, and finance. Mr. Seager is actively involved in small business and community development activities throughout northwestern Pennsylvania, including service on various non-profit boards. He obtained his Bachelor of Science degree from Gannon University. Mr. Seager provides the CNB Board of Directors with knowledge of the market area and strong governance experience as a result of his executive experience as President and Chief Executive Officer of multiple companies.

Vote Required for Approval

The affirmative vote of a majority of the votes cast on the proposal (the number of shares voted “FOR” a director nominee must exceed the number of votes cast “AGAINST” that director nominee) is required to elect a director. Abstentions and broker non-votes will have no effect on the outcome of the vote.

If an incumbent director fails to be reelected by a majority of votes cast, that director is required under CNB’s bylaws to promptly deliver to the CNB Board of Directors his or her irrevocable offer to resign from the CNB Board of Directors. The CNB Board of Directors will consider such director’s offer to resign, taking into consideration any such factors that the CNB Board of Directors deems relevant in deciding whether to accept such director’s resignation, including any recommendation of the CGN Committee. The CNB Board of Directors is required to act on such director’s resignation within 90 days after the election results are certified.

Recommendation of the CNB Board of Directors

THE CNB BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” EACH OF THE THREE CNB DIRECTOR NOMINEES.**

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CNB CORPORATE GOVERNANCE**</div>

**General

The business and affairs of CNB are managed under the direction of the CNB Board of Directors. Members of the CNB Board of Directors are kept informed of CNB’s business through discussions with the Chairperson of the CNB Board of Directors and CNB’s executive officers, by reviewing materials provided to them and by participating in meetings and strategic planning sessions of the CNB Board of Directors and its various committees. The CNB Board of Directors is also kept apprised by the Chairperson of the CNB Board of Directors and members of management of continuing educational programs