Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 108

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 108
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 common stock-based awards intended to motivate long-term common stock value accretion and greater align the executives’ and shareholders’ interests; |

| • |     | Continued a separate performance-based long-term incentive program, with the opportunity to realize additional common stock awards, for executive officers; |

| • |     | With the assistance of an independent consultant, examined the competitiveness of CNB’s executive compensation program to confirm that it meets CNB’s objectives of attracting, retaining and motivating executives; |

| • |     | Continued to maintain a clawback policy; |

| • |     | Continued to require executives to meet or make reasonable progress toward achieving stock ownership guidelines; and |

| • |     | Retained risk mitigation features, such as including an element focused on the efficiency ratio and cost-control and an overall risk modifier (i.e. net charge-offs ratio) which could reduce payout amounts in the short-term incentive program. |

**Compensation Determination Process The Role of the ECC The ECC is composed of five non-employee,independent directors (as defined by the NASDAQ independence standards) selected from the CNB Board of Directors. The ECC has overall responsibility for reviewing, establishing, and administering the policies that govern CNB’s executive compensation program. It determines the compensation of the NEOs and such determinations are submitted to the CNB Board of Directors for ratification. In discharging these responsibilities, the ECC seeks to maintain a position of both independence and alignment with respect to balancing the interests of CNB’s shareholders with those of the NEOs. The ECC also seeks to evaluate the reasonableness of the NEO’s compensation with regard to equity relative to internal peers, external peers and market value measures. The ECC has not delegated any of its responsibilities to individual members of the ECC or to a subcommittee of the ECC, although it has the discretion to do so. The ECC has a charter, a copy of which is available on CNB’s website at www.cnbbank.bank. The ECC meets regularly regarding compensation issues, regularly participates in an executive session (without management) and receives input from its independent compensation consultant. 73

The Role of the Compensation Consultant

The ECC has the sole authority to retain and terminate a compensation consultant and to approve the consultant’s fees and all other terms of the scope of the consulting engagement. The ECC has direct access to outside advisors and consultants throughout the year.

During 2024, the ECC engaged Meridian Compensation Partners, LLC (“Meridian”), an independent compensation consulting firm that specializes in executive and board