Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 255

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 255
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 director or other key service
provider stock grants or similar equity awards or shares of CNB Stock upon the exercise or settlement thereof.

Section 2.05 . Effective upon the date of this Agreement, CNB shall reserve for issuance a sufficient number of shares of CNB Stock for the purpose of issuing shares of CNB Stock to ESSA shareholders in
accordance with this Article II.

Section 2.06 . Prior to the
Effective Time, CNB shall notify NASDAQ of the additional shares of CNB Stock to be issued by CNB in exchange for the shares of ESSA Stock.

Section 2.07 .

(a) . Immediately prior to the Effective Time, any vesting or other forfeiture restrictions on each
share of ESSA Stock subject to a substantial risk of forfeiture (“”) outstanding as of immediately prior to the Effective Time shall, automatically and without any required action on the part of the holder
thereof, accelerate in full and fully vest and shall be converted into, and become exchanged for the Merger Consideration within five (5) Business Days after the Effective Time, less applicable Taxes required to be withheld, if any, with
respect to such vesting, and shall be treated as an issued and outstanding share of ESSA Stock for the purposes of this Agreement. For the avoidance of doubt, CNB shall not assume any ESSA Restricted Stock.

(b) . Immediately prior to the Effective Time, any vesting or other forfeiture
restrictions applicable to each outstanding performance-based cash settled award (“”) outstanding as of immediately prior to the Effective Time shall, automatically and

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without any required action on the part of the holder thereof, accelerate in full and fully vest, with any applicable performance-based vesting condition to be deemed achieved at the greater of
the target level of performance or actual annualized performance measured as of the most recent completed fiscal quarter, and shall be paid in cash within five (5) Business Days after the Effective Time, less applicable Taxes required to be
withheld, if any, with respect to such vesting and payment.

(c) . Prior to the Effective Time, ESSA shall take
all actions that may be necessary or required (under any ESSA Equity Plan, any applicable law, the applicable award agreements or otherwise) (i) to effectuate the provisions of this, (ii) to terminate each ESSA Equity
Plan as of the Effective Time without any further obligation or liability, and (iii) to ensure