Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 75

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 75
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, rather than simply reacting to isolated retirements. In anticipating board vacancies and potentially adding new directors, the CGN Committee evaluates, among other things, the CNB Board of Directors’ range of skills, education and experience, and diversity of professional backgrounds and expertise. In identifying candidates to join the CNB Board of Directors, the CGN Committee solicits input from a variety of sources, including but not limited to existing directors, advisory board members in its banking divisions, executive and senior management members, third-party firms that specialize in identifying potential candidates, and formal expressions of interest by individuals that have been communicated to the CGN Committee. Utilizing the selection criteria set forth below, the CGN Committee selects a prospective candidate and then conducts an interview in order to further evaluate the individual. Subsequent to the interview, the CGN Committee meets to determine whether to recommend the candidate to the CNB Board of Directors for election or appointment. The CNB Board of Directors, excluding all non-independentdirectors, either accepts or rejects the CGN Committee’s recommendation. The CGN Committee utilizes various selection criteria to evaluate a candidate for election or appointment to the CNB Board of Directors including, among others, requirements for directors set forth in CNB’s bylaws, and the following supplemental criteria:

| 1. | A natural person of full age who need not be a resident of Pennsylvania. |

| 2. | Ability and willingness to commit time necessary to fulfill board and committee duties. |

| 3. | Strong interest in or familiarity with the financial services industry. |

| 4. | Successful career in a business or profession, or valuable community knowledge and perspective, suitable to CNB’s business and community service plans. |

| 5. | Character and reputation. |

| 6. | Whether the candidate is “independent” under SEC and NASDAQ rules. |

| 7. | Provide expertise in an area needed for the CNB Board of Directors. |

No incumbent director may be nominated without approval of at least 25% of the existing directors and no person not then a director may be proposed for nomination without approval of at least two-thirdsof the directors. CNB’s bylaws provide that any director, upon first being appointed or elected to serve as a director, must own the lesser of 1,000 unencumbered shares of common stock of CNB or the number of shares equivalent to $15,000 of market value as of the date of the appointment or election. Further, on or before