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Sierra Bancorp (BSRR) EVP awarded 6,950 time- and performance-based shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Olague Michael reported acquisition or exercise transactions in this Form 4 filing.

Sierra Bancorp executive Michael Olague reported new equity awards in the company’s stock. On February 12, 2026, the EVP/Chief Banking Officer received grants totaling 6,950 shares of common stock at a price of $0 per share.

One 3,475-share grant is time-based restricted stock under the 2023 Equity Incentive Plan that vests ratably over three years, subject to possible forfeiture under the grant agreement. A second 3,475-share grant is performance-based restricted stock that will vest after three years based on achievement of a specified performance goal and is also subject to forfeiture.

Positive

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Insider Olague Michael
Role EVP/Chief Banking Officer
Type Security Shares Price Value
Grant/Award Common Stock 3,475 $0.00 --
Grant/Award Common Stock 3,475 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 23,989 shares (Direct)
Footnotes (1)
  1. Represents an award of time-based restricted stock pursuant to a grant under the Issuer's 2023 Equity Incentive Plan that vest ratably over three years, subject to forfeiture upon the occurrence of certain events specified in the agreement underlying such grant. Represents an award of performance-based restricted stock pursuant to a grant under the Issuer's 2023 Equity Incentive Plan, subject to forfeiture upon the occurrence of certain events specified in the agreement underlying such grant. The number of shares vesting at the end of three years will be calculated based upon the level of achievement of the performance goal specified in the agreement underlying such grant.
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
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*
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)
02/12/2026
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 02/12/2026 A 3,475 A $0(1) 23,989 D
Common Stock 02/12/2026 A 3,475 A $0(2) 27,464 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. Represents an award of time-based restricted stock pursuant to a grant under the Issuer's 2023 Equity Incentive Plan that vest ratably over three years, subject to forfeiture upon the occurrence of certain events specified in the agreement underlying such grant.
2. Represents an award of performance-based restricted stock pursuant to a grant under the Issuer's 2023 Equity Incentive Plan, subject to forfeiture upon the occurrence of certain events specified in the agreement underlying such grant. The number of shares vesting at the end of three years will be calculated based upon the level of achievement of the performance goal specified in the agreement underlying such grant.
/s/ Michael Olague 02/12/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Sierra Bancorp (BSRR) report for Michael Olague?

Sierra Bancorp reported that EVP/Chief Banking Officer Michael Olague received stock awards totaling 6,950 common shares. These were granted on February 12, 2026 at $0 per share as equity compensation, rather than an open-market purchase or sale.

How many Sierra Bancorp (BSRR) shares were granted to Michael Olague?

Michael Olague was granted 6,950 Sierra Bancorp common shares in total. This consists of two separate 3,475-share restricted stock awards, one time-based and one performance-based, both issued under the company’s 2023 Equity Incentive Plan.

What type of equity awards did Sierra Bancorp (BSRR) grant to Michael Olague?

He received time-based and performance-based restricted stock awards. One 3,475-share grant vests ratably over three years, while another 3,475-share grant vests after three years depending on achievement of a specified performance goal in the underlying agreement.

At what price were Michael Olague’s Sierra Bancorp (BSRR) stock awards granted?

Both awards were granted at a price of $0 per share. This indicates they are compensatory restricted stock grants, not shares he purchased in the market, and they are subject to vesting and forfeiture conditions described in the plan documents.

What conditions apply to Michael Olague’s Sierra Bancorp (BSRR) restricted stock?

The time-based restricted stock vests ratably over three years and can be forfeited if certain events occur. The performance-based restricted stock will vest after three years only if a specified performance goal is achieved, and it is also subject to possible forfeiture.

Under which plan were Sierra Bancorp (BSRR) shares granted to Michael Olague?

Both restricted stock awards were granted under Sierra Bancorp’s 2023 Equity Incentive Plan. The plan allows time-based and performance-based stock awards, each governed by an agreement detailing vesting schedules, performance targets, and forfeiture provisions.