Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 55

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 55
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ive Plan as of the effective date of the 2025 Plan and shares related to outstanding awards under the 2019 Stock Incentive Plan that may become available after expiration, forfeiture or cancellation of such awards). The 2025 Stock Incentive Plan provides for the issuance of common stock through the grant of a variety of awards, including stock options, stock appreciation rights, restricted stock units, unrestricted stock, dividend equivalent rights and other equity-based awards. The 2025 Stock Incentive Plan terminates in January 2035, unless terminated earlier by the Board of Directors. For key employees, the vesting of time-based restricted stock is one-third, one-fourth, or one-fifth of the granted restricted shares per year, beginning one year after the grant date, with 100% vesting on the third, fourth or fifth anniversary of the grant date, respectively. Stock compensation received by non-employee directors vests in full as of the year-end of the year of grant.At June 30, 2025, there was no unrecognized compensation cost related to stock-based compensation awarded under this plan and, except for the time-based and performance-based restricted stock awards disclosed below and in previous filings, no other stock-based compensation was granted during the three and six months ended June 30, 2025 and 2024.Compensation expense for the restricted stock awards is recognized over the requisite service period based on the fair value of the shares at the date of grant on a straight-line basis. Non-vested restricted stock awards are recorded as a reduction of additional paid-in-capital in shareholders' equity until earned. Compensation expense resulting from time-based, performance-based and director restricted stock awards was $645 thousand and $1.1 million for the three and six months ended June 30, 2025, respectively, and $482 thousand and $1.4 million for the three and six months ended June 30, 2024, respectively. The total income tax benefit related to the recognized compensation cost of vested restricted stock awards was $135 thousand and $231 thousand for the three and six months ended June 30, 2025, respectively, and $101 thousand and $287 thousand for the three and six months ended June 30, 2024, respectively.A summary of changes in time-based unvested restricted stock awards for the three months ended June 30, 2025 follows:SharesPer Share Weighted Average Grant Date Fair ValueUnvested at beginning of period115,