Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 194

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 194
---
 Share Weighted Average Grant Date Fair ValueUnvested at beginning of period254,477 $22.51 Granted1,570 22.28 Forfeited(3,423)22.51 Vested(1,363)24.01 Unvested at end of period251,261 $22.50 

41

A summary of changes in time-based unvested restricted stock awards for the nine months ended September 30, 2025 follows:SharesPer Share Weighted Average Grant Date Fair ValueUnvested at beginning of period178,556 $22.37 Granted147,132 22.82 Forfeited(12,894)22.41 Vested(61,533)22.91 Unvested at end of period251,261 $22.50 As of September 30, 2025 and December 31, 2024, there was $4.4 million and $2.7 million, respectively, of total unrecognized compensation cost related to non-vested shares granted under the 2025 Stock Incentive Plan. The fair value of shares vested was $35 thousand and $1.6 million during the three and nine months ended September 30, 2025, respectively and $33 thousand and $1.4 million during the three and nine months ended September 30, 2024, respectively.In addition to the time-based restricted stock disclosed above, the Corporation's Board of Directors grants performance-based restricted stock awards ("PBRSAs") to key employees. The number of PBRSAs will depend on certain performance conditions earned over a three year period and are also subject to service-based vesting. In 2025, awards representing a maximum of 55,575 shares in aggregate were granted to key employees. In 2024, awards representing a maximum of 44,988 shares in aggregate were granted to key employees. In 2023, awards representing a maximum of 35,129 shares in aggregate were granted to key employees.In 2024, the 2022 PBRSAs were fully earned and in 2025, 8,916 shares were fully distributed. The fair value of the shares distributed in 2025 was $226 thousand.

12.    EARNINGS PER COMMON SHARE

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average