Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 110

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 110
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) public company proxy peer group comprised of 22 financial corporations and (ii) published financial services industry compensation surveys. Meridian developed the peer group using objective parameters that reflect financial corporations of similar size (assets between $3.5 billion and $11.1 billion, approximately 0.6 to 2 times CNB’s asset size when the peer group was developed), geographic region and business model. The ECC reviewed and approved the peer group as developed and recommended by Meridian. The peer group is annually reviewed and updated as appropriate since the comparable financial corporations may change depending on acquisitions with other institutions that occur between annual analyses and any notable changes to the business focus of CNB or the peer institutions. Overall, the goal is to have 15 to 25 comparative financial corporations that approximate CNB’s asset size and region and provide a market perspective for NEO total compensation.**

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#### The following 22 financial corporations comprised the peer group:Peer Group CompanyTicker SymbolFirst Commonwealth Financial CorporationFCFEagle Bancorp, Inc.EGBNPark National CorporationPRKS&T Bancorp, Inc.STBAPremier Financial Corp.PFCStock Yards Bancorp, Inc.SYBTTompkins Financial CorporationTMPUnivest Financial CorporationUVSPPeoples Bancorp Inc.PEBOCity Holding CompanyCHCOFinancial Institutions, Inc.FISICommunity Trust Bancorp, Inc.CTBIFarmers National Banc Corp.FMNBFirst Financial CorporationTHFFMid Penn Bancorp, Inc.MPBCarter Bankshares, Inc.CAREPrimis Financial Corp.FRSTSummit Financial Group, Inc.SMMFPeoples Financial Services Corp.PFISCivista Bancshares, Inc.CIVBShore Bancshares, Inc.SHBIMVB Financial Corp.MVBF2024 Compensation Program and Pay DecisionsCNB’s compensation program consists of four elements: base salary, annual or short-term incentives, long-term incentives (equity), and benefits. The following section summarizes the role of each element, how decisions are made and the resulting 2024 decision process as it relates to the NEOs.Base SalaryCNB believes that a competitive base salary is essential to recruiting and retaining its NEOs. To that end, CNB aims to provide a competitive fixed pay (base salary) related to the NEO’s role and contribution.The ECC uses the benchmark data provided by Meridian as a reference when setting each NEO’s base salary. The ECC targets a range around the Market Median but considers each NEO’s specific role