Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 121

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 121
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 The ECC has determined that the risks arising from the compensation policies and practices for executives of CNB are not reasonably likely to have a material adverse effect on CNB as a whole. Several features of CNB’s cash and stock-based incentive program reduce the likelihood of excessive risk-taking:

| • |     | The program design provides a balanced mix of cash and equity, and annual (short-term) and long-term incentives. |

| • |     | The ECC and the CNB Board of Directors set performance goals that they believe are reasonable in light of past performance and market conditions. |

| • |     | Both absolute performance goals and relative performance goals are included in the incentive programs in order to appropriately balance risk/reward when developing strategic goals. |

| • |     | CNB’s annual incentive program limits individual payout amounts to 150% of the target payout amounts. |

| • |     | CNB has a clawback policy that allows for the recoupment of any cash and/or equity annual or long-term incentive compensation payouts following certain triggering events. |

| • |     | The NEOs are subject to stock ownership guidelines, as discussed above, which CNB believes support greater alignment of the NEOs’ interests with the interests of its shareholders. |

| • |     | CNB uses restricted stock instead of stock options because restricted stock retains value even in a depressed market and NEOs will be less likely to take unreasonable risks to get, or keep, options “in-the-money.” |

| • |     | The ECC has downward discretion over the annual incentive program and long-term incentive payouts. |

| • |     | For compensation benchmarking purposes, CNB employs an appropriate peer group derived from a standardized process. |

| • |     | CNB retains an independent compensation consultant who keeps the ECC aware of market trends and best practices. |

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CNB COMPENSATION COMMITTEE REPORT The ECC met with management to review and discuss CNB’s Compensation Discussion and Analysis disclosures in this joint proxy statement/prospectus. Based on such review and discussion, the ECC recommended to the CNB Board of Directors that the Compensation Discussion and Analysis be included in this joint proxy statement/prospectus and incorporated by reference in CNB’s Annual Report on Form 10-Kfor the fiscal year ending December 31, 2024, and the CNB Board of Directors has approved that recommendation. Submitted by the Executive Compensation and Personnel Committee:

| Michael Obi, Committee Chairperson |     | Jeffrey S. Powell |     | Nicholas N