Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 114

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 114
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                       | 222,062 |   |     |            | 0.00 | % |
| TOTAL                                               |     |                  |  100 | % |     |         |         |   |     |        |         |   |     |         |         |   |     |             | 20.13 | % |     |                         |         |   |     |            | 1.84 | % |

| (1) | In thousands |

77

Efficiency Ratio is calculated as non-interestexpense, less core deposit intangible amortization, divided by the sum of non-interestincome and net interest income, adjusted to include the tax equivalent income on tax exempt income from investments and loans. Based on the ratio of net charge-offs to average loans, the Incentive Plan payouts are subject to a reduction of up to 50% in accordance with the following table:

| CNB Bank net charge-offs / 
 Average CNB Bank loans     |     | Percentage of Incentive 
 Plan Award Forfeited    |    |   |
| Less than 0.20%            |     |                         |  0 | % |
| 0.20% to 0.24%             |     |                         | 10 | % |
| 0.25% to 0.29%             |     |                         | 20 | % |
| 0.30% to 0.34%             |     |                         | 30 | % |
| Greater than 0.34%         |     |                         | 50 | % |

This provision supports CNB’s disciplined asset quality profile by reducing the overall incentive payouts under the Incentive Plan if loan charge-offresults indicate that undue credit risks may have been taken to generate growth and revenues in achievement of short-term incentives. Loan charge-offs significantly in excess of 34 basis points could affect the payout of the total incentive based on the facts and circumstances surrounding the loss, subject to the recommendation of the President and CEO, and review by the ECC and CNB Board of Directors. For the year ended December 31, 2024, CNB Bank’s ratio of net charge-offs to average loans was 0.13%. As a result, no incentive reductions for the NEOs were required under the Incentive Plan. Considering CNB’s significant achievement in 2024, including increasing fully diluted EPS for each quarter in 2024, the ECC approved a discretionary bonus of $15,000 for each NEO,