Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 28

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 28
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, “ FOR” the ESSA compensation proposal and “ FOR” the ESSA adjournment proposal. Record Date; Outstanding Shares; Shares Entitled to Vote(Page 106) Only holders of record of ESSA common stock at the close of business on the record date of February 18, 2025 are entitled to notice of and to vote at the special meeting. As of the record date, there were 10,154,664 shares of ESSA common stock outstanding, held of record by approximately 1,558 shareholders. Quorum; Vote Required(Page 106) A quorum of ESSA shareholders is necessary to hold a valid meeting. If the holders of at least a majority of the total number of shares of ESSA common stock entitled to vote are present at the virtual special meeting or represented by proxy at the special meeting, a quorum will exist. Abstentions will be counted for purposes of determining whether a quorum is present. Assuming a quorum is present at the ESSA special meeting, approval of each of the ESSA merger proposal, the ESSA compensation proposal and the ESSA adjournment proposal requires the affirmative vote of a majority of the votes cast on such proposal.

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Abstentions and broker non-votes will have no effect on any of the proposals.

Share Ownership of Management; Voting Agreements(Page 107)

As of the record date, the directors and executive officers of ESSA collectively held 786,575 shares of ESSA common stock, which represented approximately 7.75% of the outstanding shares of ESSA common stock.

Each of the directors and executive officers of ESSA have entered into a voting agreement with CNB, requiring each of them to vote all shares of ESSA common stock beneficially owned by such person in favor of the ESSA merger proposal.

The Merger and the Merger Agreement

The terms and conditions of the merger are contained in the merger agreement, a copy of which is attached as Annex A to this joint proxy statement/prospectus. You are encouraged to read the merger agreement carefully, and in its entirety, as it is the primary legal document that governs the proposed merger.

Pursuant to the terms and subject to the conditions set forth in the merger agreement, at the effective time of the merger, ESSA will merge with and into CNB, with CNB as the surviving entity. Immediately thereafter, ESSA Bank will merge with and into