Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 14, 2021, the Board of Directors of CNB Financial Corporation (the
"Corporation"), the parent company of CNB Bank (the "Bank"), appointed Michael
Obi, president of UBIZ Venture Capital and chief executive officer of Spectrum
Global Solutions, to the Corporation's Board of Directors. Mr. Obi was appointed
to the Bank's Board of Directors in March 2021. Mr. Obi's appointment is
effective as of September 14, 2021.
Mr. Obi will serve on the Audit and Loan Committees of the Board of Directors of
the Corporation.
Mr. Obi will be compensated as a non-employee director of the Corporation in
accordance with the compensation policies described in the Corporation's
Definitive Proxy Statement for the Corporation's 2021 Annual Meeting of
Shareholders.
There were no arrangements or understandings between Mr. Obi and any other
person pursuant to which he was selected as a director. Additionally, there has
been no transaction nor are there any proposed transactions between the
Corporation, the Bank and Mr. Obi that would require disclosure pursuant to Item
404(a) of Regulation S-K.
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