Form 4: Sierra Bancorp EVP Reports Stock Transactions

Sierra Bancorp's EVP/Chief Credit Officer, Hugh F Boyle, reported the disposition of common stock for tax obligations and forfeiture of unearned performance awards.

Summary

• Hugh F Boyle, EVP/Chief Credit Officer of Sierra Bancorp (BSRR), reported multiple transactions involving the company's common stock.
• On November 16, 2025, 673 shares of common stock were disposed of at a price of $29.38 per share to satisfy tax withholding obligations related to restricted stock vesting.
• On November 18, 2025, 596 shares of common stock were disposed of at a price of $28.59 per share for tax withholding obligations related to restricted stock vesting.
• Also on November 18, 2025, 2,216 shares of common stock were disposed of at a price of $28.59 per share.
• The performance awards issued on November 18, 2022, included 3,517 target shares and 1,759 excess shares for exceeding performance targets.
• Of the excess performance awards, 844 shares vested on November 18, 2025.
• The remaining 915 excess performance shares were forfeited on November 18, 2025, as the performance criteria were not achieved.
• Following these transactions, Hugh F Boyle beneficially owns 29,811 shares of Sierra Bancorp common stock directly.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to executive compensation (tax withholding, vesting, and forfeiture of performance awards). These are administrative in nature and do not indicate a significant positive or negative sentiment for the company's operational or financial performance.

Positives

• 844 excess performance shares, part of an award granted on November 18, 2022, vested on November 18, 2025, indicating achievement of some performance targets.

Negatives

• 915 excess performance shares, part of an award granted on November 18, 2022, were forfeited on November 18, 2025, because the remaining performance criteria were not achieved.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing details routine insider transactions related to executive compensation and tax obligations, which is a common occurrence across all industries for publicly traded companies. It does not provide information to assess broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: The transactions represent a minor change in the beneficial ownership of a key executive, which is a routine part of executive compensation and unlikely to have a material impact on the company's stock price or long-term value.
• Employees: The vesting and forfeiture of performance awards reflect the outcome of compensation plans tied to performance, which can influence employee motivation and retention, particularly for executives.

Key Dates

Keywords

BSRR, Sierra Bancorp, Form 4, Insider Transaction, Executive Compensation, Restricted Stock, Performance Awards, Stock Disposition, Tax Withholding