Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 86

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 86
---
 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 by a committee (the “Committee”) consisting of two or more directors of CNB. Each such director will be required to qualify as a “non-employeedirector” within the meaning of Rule 16b-3under the Exchange Act, and for so long as CNB common stock is listed on NASDAQ, an “independent director” under the NASDAQ listing rules. The Committee initially will be the ECC and may be a subcommittee of the ECC that satisfies the foregoing requirements. The CNB Board of Directors will also be authorized to appoint one or more committees of the CNB Board of Directors consisting of one or more directors of CNB who need not satisfy the requirements for membership above for certain limited purposes permitted by the 2025 Plan, and to the extent permitted by applicable law, the Committee will be authorized to delegate authority to the President and Chief Executive Officer of CNB and/or any other officers of CNB for certain limited purposes permitted by the 2025 Plan. The CNB Board of Directors will retain the authority under the 2025 Plan to exercise any or all of the powers and authorities related to the administration and implementation of the 2025 Plan. References below to the Committee include a reference to the CNB Board of Directors or another committee appointed by the CNB Board of Directors for those periods in which the CNB Board of Directors or such other committee appointed by the CNB Board of Directors is acting. Except where the authority to act on such matters is specifically reserved to the CNB Board of Directors under the 2025 Plan or applicable law, the Committee will have full power and authority to interpret and construe all provisions of the 202