BSRR insider Olague reports tax-share withholding and forfeited awards

Rhea-AI Filing Summary

Sierra Bancorp executive Michael Olague, EVP/Chief Banking Officer, reported share movements in a Form 4 related mainly to tax withholding on vested equity awards, not open-market trades. On November 16, 2025, 673 shares of common stock were withheld at $29.38 per share, and on November 18, 2025 a further 596 and 2,216 shares were withheld at $28.59 per share, all coded as “F” for tax withholding. After these transactions, he directly beneficially owned 21,429 shares of Sierra Bancorp common stock. The filing also notes that of certain performance awards issued on November 18, 2022, 915 excess performance shares were not earned because performance criteria were not achieved and were therefore forfeited on November 18, 2025.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Olague Michael

Role EVP/Chief Banking Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	596	$28.59	$17K
Tax Withholding	Common Stock	2,216	$28.59	$63K
Tax Withholding	Common Stock	673	$29.38	$20K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 23,645 shares (Direct)

Footnotes (1)

1. Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of previously awarded shares of restricted stock. Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of previously awarded shares of restricted stock. The performance awards issued on November 18, 2022, included 3,517 target shares and 1,759 excess shares for exceeding performance targets. The performance awards vesting on November 18, 2025, included 844 shares of the 1,759 total excess performance shares granted. The remaining 915 shares of excess performance awards granted were not earned and did not vest because the remaining performance criteria were not achieved and thus, those 915 shares were forfeited on November 18, 2025.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

Olague Michael

(Last) (First) (Middle)

86 N 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 Banking Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/16/2025

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	11/16/2025		F		673(1)	D	$29.38	24,241	D
Common Stock	11/18/2025		F		596(2)	D	$28.59	23,645	D
Common Stock	11/18/2025		F		2,216(3)	D	$28.59	21,429	D
Common Stock								8,809	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.

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

3. The performance awards issued on November 18, 2022, included 3,517 target shares and 1,759 excess shares for exceeding performance targets. The performance awards vesting on November 18, 2025, included 844 shares of the 1,759 total excess performance shares granted. The remaining 915 shares of excess performance awards granted were not earned and did not vest because the remaining performance criteria were not achieved and thus, those 915 shares were forfeited on November 18, 2025.

	/s/ Michael Olague	11/19/2025
	** Signature of Reporting Person	Date
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