Joseph B. Bower Jr - Feb 15, 2022 Form 4 Insider Report for CNB FINANCIAL CORP/PA (CCNE)

Role: President and CEO
Signature: /s/ Jessica A. Zupich, attorney in fact
Stock symbol: CCNE
Transactions as of: Feb 15, 2022
Transactions value $: $98,320
Form type: 4
Date filed: 2/15/2022, 10:12 AM
Previous filing: Feb 7, 2022
Next filing: Sep 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CCNE	common stock	Award	$169K	+6.32K	+9.52%	$26.71	72.8K	Feb 15, 2022	Direct	F1
transaction	CCNE	common stock	Tax liability	-$70.6K	-2.64K	-3.63%	$26.71	70.1K	Feb 15, 2022	Direct
holding	CCNE	common stock						786	Feb 15, 2022	Son
holding	CCNE	Depositary Shares						4.36K	Feb 15, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	CCNE	phantom stock						9.33K	Feb 15, 2022	common stock	9.33K		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These securities were issued to the reporting person pursuant to the CNB Financial Corporation 2019 Stock Incentive Plan, which provided for the conversion of performance units into a number of shares of common stock based on the Issuer's performance over a three year designated performance period.
F2	Each Depositary Share represents a 1/40th interest in a share of the Issuer's 7.125% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, no par value per share. Depositary Shares were purchased in an underwritten public offering.
F3	Each share of phantom stock is the economic equivalent of one share of common stock. The phantom shares become payable upon termination of service.