Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 235

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 235
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 months following the termination of the merger agreement by CNB as a result of a willful breach by ESSA or ESSA Bank after an acquisition proposal has been publicly announced or otherwise made known to ESSA. |

Waiver and Amendment Prior to the effective time of the merger, any provision of the merger agreement may be waived by the party benefited by the provision or amended or modified by a written agreement among the parties. However, after the CNB and ESSA special meetings, no amendment will be made which by law requires further approval by the shareholders of CNB or ESSA, respectively, without obtaining such approval. Expenses Each party will pay all expenses it incurs in connection with the merger agreement and the related transactions, including fees and expenses of its own financial consultants, accountants and legal counsel, except that CNB and ESSA will share equally any printing expenses and SEC filing and registrations fees for this joint proxy statement/prospectus. Specific Performance CNB and ESSA have agreed that they are each entitled to an injunction or other equitable relief to prevent breaches of the merger agreement and to enforce specifically the terms and provisions of the merger agreement, this being in addition to any other remedy to which they are entitled at law or in equity. 171

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS OF CNB COMMON STOCK AND CNB MANAGEMENT The table below provides certain information about beneficial ownership of CNB common stock as of February 19, 2025, the latest practicable date prior to the date of this filing. The table shows information for (i) each of CNB’s directors, (ii) each of CNB’s NEOs, (iii) all of CNB’s directors and executive officers as a group and (iv) each person, or group of affiliated persons, who is known to CNB to beneficially own more than 5% of CNB common stock. Except as otherwise noted, the persons or entities in the below tables have sole voting and investing power with respect to all shares of common stock beneficially owned by them, subject to community property laws, where applicable. Unless otherwise indicated, the address for each of the shareholders in the table below is c/o CNB Financial Corporation, 1 South Second Street, PO Box 42, Clearfield, Pennsylvania 16830.

| Name of Beneficial Owner                                  |     | Number of Shares   
 of Common          
 Stock Beneficially 
 Owned(1)           |           |    |     | Percentage