Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 85

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 85
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 such a shortage would compromise and disrupt CNB’s compensation program as well as impair CNB’s ability to recruit, retain, and reward key people, or require CNB to shift its compensation plan to include more cash compensation. Notable Features of the 2025 Plan As described in more detail below, certain notable features of the 2025 Plan include:

| • |     | granting of options or SARs only at a per share exercise price at least equal to the fair market value of a share 
 of CNB common stock on the grant date;                                                                            |

| • |     | granting of options or SARs with a ten-year maximum term; |

| • |     | no repricing of options or SARs without prior shareholder approval; |

| • |     | no vesting in dividends or dividend equivalent rights paid on unvested performance-based awards unless the 
 underlying award vests;                                                                                    |

| • |     | no liberal share recycling; and |

| • |     | no reload or “evergreen” share replenishment features. |

Burn Rate The historical three-year average burn rate for fiscal years 2022, 2023, and 2024 was 0.5%. The burn rate is calculated by dividing (i) the number of shares granted subject to time-based equity awards and the number of shares earned subject to performance-based equity awards during the applicable fiscal year by (ii) the weighted average number of shares of common stock outstanding during the applicable fiscal year. 56

Summary of the Material Terms of the 2025 Plan A summary of the material terms of the 2025 Plan is set forth below. This summary is qualified in its entirety by the detailed provisions of the 2025 Plan, a copy of which is attached as Annex Dto this joint proxy statement/prospectus and which is incorporated by reference into this proposal. CNB encourages its shareholders to read and refer to the complete plan document in Annex Dfor a more complete description of the 2025 Plan. Effective Date; Term.The 2025 Plan was adopted by the CNB Board of Directors and became effective on January 21, 2025, subject to approval by the shareholders at the CNB annual meeting. 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. Administration of the 2025 Plan.The 2025 Plan generally will be administered