Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 113

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 113
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This provision supports CNB’s disciplined asset quality profile by reducing the overall incentive payouts under the Incentive Plan if loan charge-offresults indicate that undue credit risks may have been taken to generate growth and revenues in achievement of short-term incentives. Loan charge-offs significantly in excess of 34 basis points could affect the payout of the total incentive based on the facts and circumstances surrounding the loss, subject to the recommendation of the President and CEO, and review by the ECC and CNB Board of Directors. For the year ended December 31, 2024, CNB Bank’s ratio of net charge-offs to average loans was 0.13%. As a result, no incentive reductions for the NEOs were required under the Incentive Plan. Considering CNB’s significant achievement in 2024, including increasing fully diluted EPS for each quarter in 2024, the ECC approved a discretionary bonus of $15,000 for each NEO, except for the CEO. The ECC’s decision to award a discretionary bonus to the NEOs (excluding Mr. Peduzzi) was based on the ECC’s assessment of the degree of effort and progress the NEOs achieved in building positive earnings performance momentum in light of a challenging economic environment. Despite CNB not achieving the overall incentive compensation financial goals under the annual incentive plan, CNB continued to make progress in its growth, profitability and customer-related initiatives that position CNB for long-term success and shareholder value accretion. The following table summarizes the actual incentive award earned by each NEO for 2024, under CNB’s Incentive Plan:

| NEO                 |     | Title                                                        |     | 2024       
 Calculated 
 Incentive  
 Payout     
 ($)        |        |     | 2024      
 Actual    
 Incentive 
 Payout    
 ($)       |        |     | 2024 Actual    
 Incentive      
 Payout         
 as % of Target 
 Opportunity    |      |   |     | 2024 Actual    
 Incentive      
 Payout as % of 
 Base Salary    |      |   |
| Michael D. Peduzzi  |     | President and Chief Executive Officer                        |     |            | 61,116 |     |           | 61,116 |     |                | 34.1 | % |     |                | 9.81 | % |
| Tito L. Lima        |     | Senior Executive V.P., Chief Financial Officer and Treasurer |     |            |  6,403 |     |           |