Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 119

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 119
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 interests and actions with the interests of CNB’s shareholders. The Executive Stock Ownership Guidelines require Mr. Peduzzi, in his capacity as President and CEO, to continuously build his common stock ownership during the period of his employment until the number of shares of CNB’s common stock he owns, when multiplied by the market value of CNB’s common stock, results in a total common stock ownership value equal to 300% or more of his then-base salary.

All other executive officers of CNB and CNB Bank and its regional bank presidents are required to build ownership during the period of their employment to a number of shares of CNB’s common stock which, when multiplied by the market value of CNB’s common stock, equals 150% or more of the executive’s then-base salary. The Executive Stock Ownership Guidelines provide that until a person subject to the Executive Stock Ownership Guidelines achieves the percentage ownership target under such guidelines, the person may not dispose of any shares of common stock, including those received from the long-term incentive equity compensation, other than for purposes of paying the applicable taxes associated with such awards. The Executive Stock Ownership Guidelines are administered and enforced by the ECC, and compliance is monitored and reported to the ECC by CNB’s President and CEO.

All NEOs continue to be on track towards achieving and/or maintaining their minimum stock ownership levels as required under the Executive Stock Ownership Guidelines. While Messrs. Lima and Dixon are compliant with the minimum ownership requirements, Messrs. Peduzzi and Griffith and Ms. Wilcoxson became subject to the Executive Stock Ownership Guidelines within the last few years and continue to make progress towards achieving their minimum ownership requirements.

#### Hedging and Pledging Policy
All directors and employees of CNB are prohibited from engaging in any speculative transaction designed to hedge or offset any decrease in the market value of CNB’s securities, including hedging and/or pledging of CNB’s common stock. Effective August 11, 2015, CNB also prohibited any pledging of CNB’s securities in a margin account and restricted all other pledging of CNB’s securities by requiring directors and employees to obtain prior approval of the Chief Financial Officer before entering into any such agreement. CNB securities that were pledged as of August 11, 2015 as collateral for a loan are grandfathered and may continue to be pledged until released pursuant to the terms of relevant agreements.

#### Clawback/Recoupment Policy
The CNB Board of Directors has adopted a clawback policy for incentive compensation. The policy provides for