Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 207

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 207
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 as goodwill. Any excess of the fair value of ESSA’s net assets over the purchase price will be recognized in earnings by CNB on the closing date of the merger. Financial statements of CNB issued after the merger will reflect these values but will not be restated retroactively to reflect the historical financial position or results of operations of ESSA prior to the merger. The results of operations of ESSA will be included in the results of operations of CNB beginning on the effective date of the merger.

#### Dissenters’ Appraisal Rights
**ESSA shareholders are not entitled to appraisal or dissenters’ rights with respect to the merger.

Restrictions on Sales of Shares by Certain Affiliates

The shares of CNB common stock to be issued in the merger will be freely transferable under the Securities Act, except for shares issued to any shareholder who is an “affiliate” of CNB as defined by Rule 144 under the Securities Act. Affiliates consist of individuals or entities that control, are controlled by or are under common control with CNB and include the executive officers and directors of CNB and may include significant shareholders of CNB.

Stock Exchange Listing; Delisting and Deregistration of ESSA Common Stock.

The shares of CNB common stock to be issued in the merger will be listed for trading on NASDAQ and CNB will submit a notification form to NASDAQ. Following the consummation of the merger, shares of CNB common stock will continue to be traded on NASDAQ under the symbol “CCNE.” In addition, following the consummation of the merger, ESSA common stock will be delisted from NASDAQ, will be deregistered under the Exchange Act and will cease to be publicly traded.**

#### Litigation Related to the Merger
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 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. Please see the section of this joint proxy statement/prospectus entitled “Risk Factors—Risks Relating to the Merger—Since the initial filing on February 20