Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 31

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 31
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 time of the merger                                                                                                                                
 will fully vest, with any performance-based vesting condition to be determined based upon the greater of: (i) the target level of performance; or (ii) actual annualized performance measured as of the most recently completed fiscal quarter, 
 and will be paid in cash within five business days after the effective time of the merger, less applicable taxes required to be withheld;                                                                                                       |

| • |     | ESSA, ESSA Bank and CNB entered into a new settlement and non-competition                                                                                                                                                                
 agreement with each of (i) Gary S. Olson, President and Chief Executive Officer of ESSA and ESSA Bank, (ii) Peter A. Gray, Senior Executive Vice President and Chief Operating Officer of ESSA and ESSA Bank, (iii) Charles D. Hangen,   
 Executive Vice President and Chief Risk Officer of ESSA and ESSA Bank, (iv) Allan A. Muto, Executive Vice President and Chief Financial Officer of ESSA and ESSA Bank, and (v) Thomas J. Grayuski, Senior Vice President and Chief Human 
 Resource Officer of ESSA and ESSA Bank, that will be effective at the closing of the merger. The settlement and non-competition agreements will cancel Messrs. Olson, Gray, Grayuski, Hangen and Muto’s                                  
 employment agreements with ESSA and ESSA Bank as of the effective time of the merger in exchange for a cash payment and the executive’s agreement to certain non-competition and non-solicitation restrictions;                          |

| • |     | Interests in a supplemental executive retirement plan with Messrs. Olson and Grayuski, which will be terminated                                                  
 as of the closing date of the merger, and Messrs. Olson and Grayuski will be paid their fully vested benefit, without any enhancement as a result of the merger; |

| • |     | At the closing of the merger, certain of ESSA’s directors and executive officers will continue to serve as 
 directors or executive officers of the combined company; and                                               |

| • |     | The rights of ESSA executive officers and directors under the merger agreement to continued indemnification 
 coverage and continued coverage under directors’ and officers’ liability insurance policies.                |

16

For a more complete description of these interests, see the section entitled “The Merger—Interests of Certain ESSA Directors and Executive Officers in the Merger” beginning