Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 48

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 48
---
 the information contained or incorporated by reference into this joint proxy statement/prospectus. Following the merger, CNB may not continue to pay dividends at or above the rate currently paid by CNB. Following the merger, CNB shareholders may not receive dividends at the same rate that they did as CNB shareholders prior to the merger for various reasons, including the following:

| • |     | CNB may not have enough cash to pay such dividends due to changes in its cash requirements, capital spending plans, cash flow or financial position; |

| • |     | decisions on whether, when and in what amounts to make any future dividends will remain at all times entirely at the discretion of the CNB Board of Directors, which reserves the right to change CNB’s dividend practices at any time and for any reason; and |

| • |     | the amount of dividends that CNB’s subsidiaries may distribute to CNB may be subject to restrictions imposed by state law and by the terms of any current or future indebtedness that these subsidiaries may incur. |

**CNB shareholders will have no contractual or other legal right to dividends that have not been declared by the CNB Board of Directors. The combined company may be unable to retain CNB and/or ESSA personnel successfully after the merger is completed. The success of the merger will depend in part on the combined company’s ability to retain the talents and dedication of key employees currently employed by CNB and ESSA. It is possible that these employees may decide not to remain with CNB or ESSA, as applicable, while the merger is pending or with the combined company after the merger is consummated. If CNB and ESSA are unable to retain key employees, including management, who are critical to the successful integration and future operations of the companies, CNB and ESSA could face disruptions in their operations, loss of existing customers, loss of key information, expertise or know-howand unanticipated additional recruitment costs. In addition, following the merger, if key employees terminate their employment, the combined company’s business activities may be adversely affected, and management’s attention may be diverted from successfully hiring suitable replacements, all of which may cause the combined company’s business to suffer. CNB and ESSA also may not be able to locate or retain suitable replacements for any key employees who leave either company. Issuance of shares of CNB common stock in connection with the merger may adversely affect the market price of CNB common stock. In connection with the payment of the merger