Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 110

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 110
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#### The following 22 financial corporations comprised the peer group:Peer Group CompanyTicker SymbolFirst Commonwealth Financial CorporationFCFEagle Bancorp, Inc.EGBNPark National CorporationPRKS&T Bancorp, Inc.STBAPremier Financial Corp.PFCStock Yards Bancorp, Inc.SYBTTompkins Financial CorporationTMPUnivest Financial CorporationUVSPPeoples Bancorp Inc.PEBOCity Holding CompanyCHCOFinancial Institutions, Inc.FISICommunity Trust Bancorp, Inc.CTBIFarmers National Banc Corp.FMNBFirst Financial CorporationTHFFMid Penn Bancorp, Inc.MPBCarter Bankshares, Inc.CAREPrimis Financial Corp.FRSTSummit Financial Group, Inc.SMMFPeoples Financial Services Corp.PFISCivista Bancshares, Inc.CIVBShore Bancshares, Inc.SHBIMVB Financial Corp.MVBF2024 Compensation Program and Pay DecisionsCNB’s compensation program consists of four elements: base salary, annual or short-term incentives, long-term incentives (equity), and benefits. The following section summarizes the role of each element, how decisions are made and the resulting 2024 decision process as it relates to the NEOs.Base SalaryCNB believes that a competitive base salary is essential to recruiting and retaining its NEOs. To that end, CNB aims to provide a competitive fixed pay (base salary) related to the NEO’s role and contribution.The ECC uses the benchmark data provided by Meridian as a reference when setting each NEO’s base salary. The ECC targets a range around the Market Median but considers each NEO’s specific role with CNB, which may differ from similar positions at peers, as well as the respective NEO’s experience, contribution, and performance.Close to each calendar year end, the ECC meets, reviews and sets each NEO’s base salary for the following calendar year to reflect competitive market conditions, individual experience, expertise and performance. The ECC considers input from CNB’s President and CEO when setting the base salaries of the other NEOs, but is solely responsible for determining the President and CEO’s base salary.In determining the NEO’s base salaries for 2024, the ECC reviewed competitive market data, internal equity and individual performance and contributions. The CEO declined his base salary increase for 2024 as CNB implemented strategies to manage the rate of increase in its core cost base. Other NEOs’ base salary adjustments were made to recognize each respective executive’s performance and contribution and ensure compensation continues to be reasonably in line