CB Financial Services, Inc. — Director's Dealing 2016

May 25, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CB Financial Services, Inc. (CBFV)
CIK: 0001605301
Period of Report: 2016-05-23

Reporting Person: Headlee Joseph N. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-23	Common Stock	P	140	$21.25	Acquired	15070	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$22.25	2025-12-16	Common Stock (5000)	5000	Direct

Footnotes

F1: Includes shares of restricted stock which vest 100% on December 16, 2016.

F2: Stock options vest at a rate of 20% per year commencing on December 16, 2016.