Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 85

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 85
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 purpose of the 2025 Plan is to (i) provide eligible individuals with an incentive to contribute to the success of CNB and to operate and manage CNB’s business in a manner that will provide for CNB’s long-term growth and profitability and that will benefit its shareholders and other important stakeholders, including its employees and customers, and (ii) provide a means of recruiting, rewarding, and retaining key personnel. To this end, the 2025 Plan provides for the grant of options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), deferred stock units, unrestricted stock, dividend equivalent rights, and other equity-based awards. If CNB’s shareholders approve the 2025 Plan, the 2025 Plan will replace the CNB Financial Corporation 2019 Omnibus Incentive Plan (the “2019 Plan”) as the means by which CNB makes equity awards to key persons. If CNB’s shareholders do not approve the 2025 Plan, the 2025 Plan will not become effective, and any awards made under the 2025 Plan on or after the Effective Date but prior to the CNB annual meeting will not be exercisable, settleable, or deliverable. Moreover any awards to key persons will continue to be made under the 2019 Plan, to the extent shares are available for issuance thereunder, which as of December 31, 2024 equaled an estimated 26,278 shares (without giving effect to additional shares that may have become available upon the future expiration, forfeiture, or cancellation of outstanding awards). The CNB Board of Directors believes that, if the 2025 Plan is not approved, the current share reserve under the 2019 Plan would be insufficient to align the interests of key persons with CNB’s shareholders through equity-based compensation and accordingly, 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 repr