Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 45

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 45
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 aware that some of CNB’s directors and executive officers may have interests in the merger and have arrangements that are different from, or in addition to, those of CNB shareholders. These interests and arrangements may create potential conflicts of interest. The CNB Board of Directors was aware of these interests and considered them, among other matters, when making its decision to approve the merger agreement and recommend that CNB’s shareholders vote to approve the CNB share issuance proposal. For a more complete description of these interests, please see the section entitled “The Merger—Interests of Certain CNB Directors and Executive Officers in the Merger” beginning on page 145. Since the initial filing on February 20, 2025 of the registration statement of which this joint proxy statement/prospectus is a part, CNB and the CNB Board of Directors have received one Demand Letter from a purported CNB shareholder, which could result in litigation related to the merger being filed against CNB, the CNB Board of Directors, and/or ESSA and the ESSA Board of Directors, and additional demand letters may be received or litigation may be filed against them, which could prevent or delay the completion of the merger or otherwise negatively impact the business and operations of CNB and ESSA. Since the initial filing on February 20, 2025 of the registration statement of which this joint proxy statement/prospectus is a part, CNB has received one Demand Letter from a purported CNB shareholder generally alleging that the registration statement filed with the SEC on February 20, 2025 omits material information in violation of 25

the federal securities laws. The shareholder has demanded disclosure of certain additional information pertaining to certain financial projections for CNB and ESSA, certain information with
respect to Piper Sandler’s analysis, and other requested disclosures.

The shareholder who provided the Demand Letter, or other shareholders, may
initiate litigation against CNB, the CNB Board of Directors, ESSA and the ESSA Board of Directors, and it is possible that CNB, the CNB Board of Directors, ESSA or the ESSA Board of Directors may receive further demand letters alleging wrongdoing
with respect to the merger.

One of the conditions to the closing is that no order, injunction or decree issued by any court or governmental entity of
competent jurisdiction or other legal restraint preventing the consummation of any of the transactions contemplated by the merger agreement be in effect. If any plaintiff were successful in obtaining an injunction