Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 178

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 178
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 three and six months ended June 30, 2024, respectively. The total income tax benefit related to the recognized compensation cost of vested restricted stock awards was $135 thousand and $231 thousand for the three and six months ended June 30, 2025, respectively, and $101 thousand and $287 thousand for the three and six months ended June 30, 2024, respectively.A summary of changes in time-based unvested restricted stock awards for the three months ended June 30, 2025 follows:SharesPer Share Weighted Average Grant Date Fair ValueUnvested at beginning of period115,259 $22.09 Granted145,562 22.83 Forfeited(5,913)22.49 Vested(431)18.56 Unvested at end of period254,477 $22.51 

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A summary of changes in time-based unvested restricted stock awards for the six months ended June 30, 2025 follows:SharesPer Share Weighted Average Grant Date Fair ValueUnvested at beginning of period178,556 $22.37 Granted145,562 22.83 Forfeited(9,471)22.38 Vested(60,170)22.89 Unvested at end of period254,477 $22.51 As of June 30, 2025 and December 31, 2024, there was $5.0 million and $2.7 million, respectively, of total unrecognized compensation cost related to non-vested shares granted under the 2025 Stock Incentive Plan. The fair value of shares vested was $1.5 million during the three and six months ended June 30, 2025, and $11 thousand and $1.4 million during the three and six months ended June 30, 2024, respectively.In addition to the time-based restricted stock disclosed above, the Corporation's Board of Directors grants performance-based restricted stock awards ("PBRSAs") to key employees. The number of PBRSAs will depend on certain performance conditions earned over a three year period and are also subject to service-based vesting. In 2025, awards representing a maximum of 55,575 shares in aggregate were granted to key employees. In 2024, awards representing a maximum of 44,988 shares in aggregate were granted to key