Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 200

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 200
---
A common stock of $19.59 (the average closing market price of ESSA common stock over the first five business days following the public announcement of the merger beginning on January 13, 2025). |

The calculations in the table do not include amounts that ESSA’s named executive officers were already entitled to receive or were already vested in as of the date of this Joint Proxy Statement/Prospectus. The calculations in the table do not attempt to forecast any additional cash incentive awards, equity award grants, or forfeitures that may occur prior to the completion of the merger. As a result of the foregoing assumptions, which may or may not actually occur or be accurate on the relevant date, including the assumptions described in the footnotes to the table, the actual amounts, if any, to be received by a named executive officer may materially differ from the amounts set forth below.

| Name              |     | Cash   
 ($)(1) |           |     | Equity 
 ($)(2) |         |     | Total 
 ($)   |           |
| Gary S. Olson     |     |        | 4,065,833 |     |        | 283,330 |     |       | 4,349,163 |
| Peter A. Gray     |     |        | 1,914,410 |     |        | 141,675 |     |       | 2,056,085 |
| Charles D. Hangen |     |        | 1,724,141 |     |        | 141,675 |     |       | 1,865,816 |

| (1) | The cash payments consist of the (i) estimated cash amount payable pursuant to the terms of each executive’s settlement and non-competition agreement, (ii) the estimated cash payments for the performance-based cash-settled awards and (iii) the estimated pro-rata bonus payable pursuant to the terms of the merger agreement, which in each case are considered “single trigger” benefits since they are payable upon a change in control of ESSA without regard to termination of employment pursuant to the terms of the merger agreement. The following is a break-out of the amounts reported in the above table: |

| Name              |     | Settlement    
 Agreement ($) |           |     | Performance- 
 Based Cash-  
 Settled      
 Award ($)    |         |     | Pro Rata 
 Bonus    
 Payment  
 ($)      |         |
| Gary S. Olson     |     |               | 3