CNB Financial director gifts shares to spouse trust
CNB Financial Corp. director Francis X. Straub III reported gifting shares to a family trust.
Rhea-AI Filing Summary
CNB Financial Corp. director Francis X. Straub III reported gifting shares to a family trust. On June 5, 2026, he made bona fide gifts of 15,169 shares of CCNE common stock and 5,250 depositary shares, with the Cheryl Straub Trust benefiting his spouse.
The filing also shows 12,081.97 phantom stock units, each economically equivalent to one common share and payable upon termination of service. Each depositary share represents a 1/40th interest in CNB Financial’s 7.125% Series A fixed-rate non-cumulative perpetual preferred stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
20,419 shares gifted
Gift
5 txns
Insider
Straub Francis X III
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 15,169 | $0.00 | $0.00 |
| Gift | Depositary Shares | 5,250 | $0.00 | $0.00 |
| holding | Phantom Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Depositary Shares | -- | -- | -- |
Holdings After Transaction:
Common Stock — 22,805 shares (Direct);
Depositary Shares — 5,250 shares (Direct);
Phantom Stock — 12,081.97 contracts (Direct);
Common Stock — 15,169 shares (Indirect, By spousal trust);
Depositary Shares — 5,250 shares (Indirect, By Spousal Trust)
Footnotes (4)
- F1. On June 5, 2026, the reporting person contributed 15,169 shares of CCNE common stock to the Cheryl Straub Trust. The beneficiary of the trust is the reporting person's spouse.
- 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.
- F4. n/a
Key Figures
Common shares gifted: 15,169 shares
Depositary shares gifted: 5,250 shares
Total gifted shares: 20,419 shares
+3 more
6 metrics
Common shares gifted
15,169 shares
Bona fide gift on June 5, 2026 to Cheryl Straub Trust
Depositary shares gifted
5,250 shares
Bona fide gift on June 5, 2026
Total gifted shares
20,419 shares
GiftShares in transaction summary
Phantom stock units
12,081.97 units
Each unit economically equivalent to one common share
Preferred dividend rate
7.125%
Series A fixed-rate non-cumulative perpetual preferred
Depositary share ratio
1/40th interest
Each depositary share equals 1/40th of one preferred share
Key Terms
Phantom Stock, Depositary Shares, bona fide gift, Non-Cumulative Perpetual Preferred Stock, +1 more
5 terms
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share of common stock."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Non-Cumulative Perpetual Preferred Stock financial
"7.125% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, no par value per share."
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of common stock."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did CNB Financial (CCNE) report for Francis X. Straub III?
CNB Financial director Francis X. Straub III reported bona fide gifts of common and depositary shares. On June 5, 2026, he transferred shares to the Cheryl Straub Trust, a spousal trust, rather than executing open-market stock sales.
What is the Cheryl Straub Trust mentioned in the CNB Financial (CCNE) filing?
The Cheryl Straub Trust is a spousal trust benefiting the reporting person’s spouse. On June 5, 2026, 15,169 CCNE common shares were contributed to this trust, and related holdings are now shown as indirectly owned through the spousal trust structure.
What are CNB Financial (CCNE) phantom stock units held by the director?
The director holds 12,081.97 phantom stock units tied to CNB Financial common stock. Each phantom share is economically equivalent to one common share, with the units becoming payable upon termination of service rather than trading on the open market.
AI-generated analysis. How Rhea-AI works. Not financial advice.
