Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 88

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 88
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 stock. The maximum number of shares of CNB common stock available for issuance pursuant to incentive stock options granted under the Plan will be the same as the number of shares of CNB common stock reserved for issuance under the 2025 Plan. The shares of CNB common stock that are issued under the 2025 Plan may be authorized and unissued shares of CNB common stock, treasury shares, or any combination of the foregoing.

Share Usage. Shares of CNB common stock that are subject to awards, including shares of stock acquired through dividend reinvestment, will be counted against the Share Limit as one share for every one share subject to the award. The number of shares subject to any SARs awarded under the 2025 Plan will be counted against the Share Limit regardless of the number of shares actually issued to settle the SARs upon exercise. If any awards terminate, expire, or are canceled, forfeited, exchanged, or surrendered without having been exercised or paid or if any awards are forfeited or expire or otherwise terminate without the delivery of any shares of CNB common stock or are settled in cash in lieu of shares of CNB common stock, the shares subject to such awards will again be available for purposes of the 2025 Plan. The Share Limit, however, will not be increased by the number of shares of CNB common stock (i) tendered, withheld, or subject to an award surrendered in connection with the exercise of an option, (ii) that were not issued upon the net settlement or net exercise of a stock-settled SAR, (iii) deducted or delivered from payment of an award in connection with CNB’s tax withholding obligations, or (iv) purchased by CNB with proceeds from option exercises.

Adjustments. The number and kinds of shares of common stock for which awards may be made under the 2025 Plan, including the Share Limit described above, will be adjusted proportionately and accordingly by the Committee if the number of outstanding shares of CNB common stock is increased or decreased or the shares of CNB common stock are changed into or exchanged for a different number of shares or kind of capital stock or other securities of CNB on account of any recapitalization, reclassification, stock split, reverse stock split, spin-off, combination of stock, exchange of stock, stock dividend or other distribution payable in capital stock, or other increase or decrease in shares of common stock effected without receipt of consideration by CNB.

Fair Market Value Determination. For so long as CNB common stock remains listed