[Form 4] Sierra Bancorp Insider Trading Activity

Rhea-AI Filing Summary

Christopher G. Treece, EVP/Chief Financial Officer of Sierra Bancorp (BSRR), reported a disposition of 1,954 shares of the issuer's common stock on 08/20/2025 at a price of $29.26 per share. The filing states the shares were withheld to satisfy tax withholding obligations arising from the vesting of previously awarded restricted stock. After the withholding, Mr. Treece beneficially owns 36,877 shares, held directly. The Form 4 was signed on 08/25/2025 and identifies the action as a routine tax-related share withholding rather than an open-market sale.

Positive

• Transparency: The Form 4 clearly discloses the transaction date, price ($29.26), and reason (tax withholding for vested restricted stock).
• Continued ownership: Reporting person retains a meaningful direct stake of 36,877 shares after the withholding.

Negative

• Reduction in holdings: 1,954 shares were withheld, reducing the reporting person's direct share count.
• Potential minor dilution: Withholding indicates issuance/vesting occurred, which reflects ongoing equity compensation that can modestly increase share count over time.

Insights

Financial Analyst

TL;DR: A tax-withholding share disposition slightly reduces the CFO's stake; transaction appears non-dispositive for corporate control or strategy.

The reported withholding of 1,954 shares at $29.26 is a common mechanism to satisfy employee tax obligations on vested restricted stock and does not indicate active selling intent by management.

Impact on outstanding shares is immaterial given the reported post-transaction holding of 36,877 shares. No options or derivative exercises were reported. For investors, this is a routine insider reporting event with limited implications for company operations or valuation.

Corporate Governance Expert

TL;DR: This Form 4 documents a standard tax-withholding adjustment tied to equity compensation; governance signals are neutral.

Withholding shares to cover taxes on vested restricted stock is standard compensation practice and typically reflects employee compensation mechanics rather than changes in alignment between management and shareholders.

The filing discloses direct beneficial ownership and includes an officer title, supporting transparency. There are no indications of unusual timing, related-party transactions, or departures from expected disclosure practices.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Treece Christopher G

(Last) (First) (Middle)

86 NORTH MAIN STREET

(Street)

PORTERVILLE CA 93257

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SIERRA BANCORP [ BSRR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP/Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/20/2025		F		1,954(1)	D	$29.26	36,877	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of previously awarded shares of restricted stock.

	/s/ Christopher G. Treece	08/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Christopher G. Treece report on Form 4 for BSRR?

The report shows a disposition of 1,954 shares on 08/20/2025 at $29.26 per share, recorded as withholding to satisfy tax obligations from vested restricted stock.

Why were the 1,954 shares disposed of according to the filing?

The filing states the shares were withheld to satisfy tax withholding obligations in connection with the vesting of previously awarded restricted stock.

How many BSRR shares does the reporting person own after the transaction?

After the reported withholding, the reporting person beneficially owns 36,877 shares, held directly.

When was the Form 4 signed and filed for this transaction?

The Form 4 shows a signature dated 08/25/2025 and reports the transaction date as 08/20/2025.

Does the Form 4 show any derivative transactions or option exercises?

No. Table II for derivative securities contains no reported transactions; only a non-derivative withholding of common stock is disclosed.