Form 4: Sierra Bancorp Executive Matthew Dusi Reports Stock Transaction

Matthew Dusi, SVP/Head of Commercial Banking at Sierra Bancorp, reported a transaction involving the withholding of 210 shares of common stock to cover tax obligations.

Summary

• Matthew Dusi, a Senior Vice President at Sierra Bancorp, filed a Form 4 disclosing a transaction.
• The transaction involved the withholding of 210 shares of common stock.
• This withholding was to satisfy tax obligations related to the vesting of previously awarded restricted stock.
• The transaction occurred on November 29, 2024, with the shares valued at $31.47 each.
• Following the transaction, Dusi directly owns 9,392 shares of Sierra Bancorp common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to a stock transaction for tax purposes, and does not indicate any positive or negative sentiment.

Industry Context

Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their transactions in company stock. This filing is typical for executives receiving stock-based compensation.

Comparison to Industry Standards

• Form 4 filings are a common practice across all publicly traded companies in the United States.
• The transaction is a standard procedure for handling tax obligations related to vesting of restricted stock, which is a common form of executive compensation.
• Similar filings are made by executives at comparable financial institutions such as Farmers & Merchants Bancorp and Community West Bancshares.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard tax withholding procedure.

Key Dates

Keywords

Sierra Bancorp, BSRR, Matthew Dusi, Form 4, stock transaction, insider trading, tax withholding, restricted stock