Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 89

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 89
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, 2025, the last practicable
trading day prior to the date of this joint proxy statement/prospectus, the closing price of CNB common stock as reported on NASDAQ was $24.07 per share.

Options. The 2025 Plan authorizes the Committee to grant “incentive stock options” (as defined in Section 422 of the Code) and
options that do not qualify as incentive stock options (“nonqualified options”). To the extent that

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the aggregate fair market value of shares of CNB common stock determined on the grant date with respect to which incentive stock options are exercisable for the first time during any calendar
year exceeds $100,000, the option will be treated as a nonqualified option. The exercise price of each option will be determined by the Committee, provided that the per share exercise price will be equal to or greater than 100% of the fair market
value of a share of CNB common stock on the grant date. If CNB were to grant incentive stock options to any ten percent shareholder, the per share exercise price will not be less than 110% of the fair market value of a share of CNB common stock on
the grant date.

Generally, the term of an option will not exceed ten years from the grant date. If CNB were to grant incentive stock options to any ten
percent shareholder, the term cannot exceed five years from the grant date. The Committee determines at what time or times each option may be exercised and the period of time, if any, after retirement, death, disability, or termination of employment
during which options may be exercised. The vesting and exercisability of options may be accelerated by the Committee. Awards of options are nontransferable, except (i) for transfers by will or the laws of descent and distribution or
(ii) if authorized in the applicable award agreement, for transfers of nonqualified options, not for value, to family members pursuant to the terms and conditions of the 2025 Plan.

Stock Appreciation Rights. The 2025 Plan authorizes the Committee to grant SARs that provide the grantee with the right to receive, upon exercise
of the SARs, cash, shares of CNB common stock, or a combination of the foregoing. The amount that the recipient will receive upon exercise of a SAR generally will equal the excess of the fair market value of a share of CNB common stock on the date
of exercise over the SAR’s per share exercise price, which