Company: CCNE
Filing Date: 2025-04-16
Form Type: 8-K
Source: 0001193125-25-082845
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Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-04-16
Form: 8-K
Item: Item 5.02
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Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers  

As described below in Item 5.07 of this Current Report on Form 8-K, onApril 15, 2025, at the 2025 Annual Meeting of Shareholders (the “ Annual Meeting”), the shareholders of CNB Corporation (the “ Corporation”) approved the CNB Financial Corporation 2025 Omnibus Incentive Plan (the “2025 Plan”), which will replace the CNB Financial Corporation 2019 Omnibus Incentive Plan (the “2019 Plan”). The 2025 Plan was adopted by the Corporation’s Board of Directors (the “ Board”) and became effective on January 21, 2025 (the “ Effective Date”), subject to approval by the shareholders at the Annual Meeting. The Corporation received the requisite shareholder approval for the 2025 Plan on April 15, 2025.

Term. Unless terminated sooner in accordance with the terms of the 2025 Plan or extended with shareholder approval, the 2025 Plan will terminate on the day before the tenth anniversary of the Effective Date, January 20, 2035.

Types of Awards. The 2025 Plan provides for the grant of options, SARs, restricted stock, RSUs, deferred stock units, unrestricted stock, dividend equivalent rights, and other equity-based awards.

Eligibility. All of our employees and the employees of our “subsidiaries” and “affiliates” (as defined in the 2025 Plan) are eligible to receive awards under the 2025 Plan. In addition, our non-employee directorsand consultants and advisors who perform services for us and our subsidiaries and affiliates may receive awards under the 2025 Plan, other than incentive stock options.

Shares Reserved for Issuance. The maximum number of shares of the Corporation’s common stock that may be issued under the 2025 Plan will be the sum of (i) 750,000 shares of our common stock, plus (ii) the number of shares of our common stock available for future awards under the 2019 Plan as of the Effective Date, plus (iii) the number of shares of our common stock related to awards outstanding under the 2019 Plan as of the Effective Date that thereafter terminate by expiration or forfeiture, cancellation, or otherwise without the issuance of such shares of our common stock.

A description of the material terms of the