[Form 4] Plumas Bancorp Insider Trading Activity

Rhea-AI Filing Summary

A Plumas Bancorp executive, EVP & Chief Information Officer Aaron M. Boigon, reported both a sale and an option exercise related to the company's common stock on 08/21/2025. He sold 1,500 shares at $41.09 per share, reducing his direct holdings to 4,100 shares. On the same date he exercised options to acquire 1,500 shares at an exercise price of $21.45, adding those shares to bring direct beneficial ownership to 5,600 shares and leaving 8,100 options outstanding that vest in scheduled installments through 10/21/2027. The option grant vests in four equal annual installments beginning 10/21/2020.

Positive

• Net increase in ownership from option exercise with 1,500 shares added to direct beneficial holdings
• Realized value from option spread: exercised at $21.45 and shares sold at $41.09, capturing intrinsic gain
• Vesting schedule disclosed (four equal annual installments), providing transparency on dilution timing

Negative

• Immediate sale of 1,500 shares at $41.09 reduced direct holdings, which could be viewed as partial cashing out
• Outstanding options remain (8,100) that may produce future dilution if exercised

Insights

Financial Analyst

TL;DR Insider exercised options and sold a smaller block of shares same day; net ownership increased by 1,500 shares.

The reporting shows a net increase in direct beneficial ownership from option exercise despite an immediate sale of 1,500 shares. The exercise price of $21.45 versus the sale price of $41.09 implies a realized spread for the exercised shares sold, indicating the executive monetized part of the option gain while retaining overall exposure. Transaction sizes are modest in absolute share count; without company market-cap or outstanding share context, materiality to investors is limited.

Corporate Governance Expert

TL;DR Standard insider activity: partial monetization of options with retained holdings; no governance red flags apparent.

The filing documents a routine combination of option exercise and open-market sale. The option vesting schedule is disclosed and appears to follow a multi-year instalment pattern. There is no indication of departures from required disclosure protocols or use of a Rule 10b5-1 plan. Given the disclosed vesting and transaction types, this is consistent with normal executive compensation liquidity management rather than a governance concern.

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^*

Boigon Aaron M.

(Last) (First) (Middle)

958 PINE FOREST DRIVE

(Street)

SPARKS NV 89441

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PLUMAS BANCORP [ PLBC ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Information Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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	08/21/2025		S		1,500	D	$41.09	4,100	D
Common Stock	08/21/2025		M		1,500	A	$21.45	5,600	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
Option to buy common stock	$21.45	08/21/2025		M			1,500	(1)	10/21/2027	Common stock	1,500	$0	8,100	D

Explanation of Responses:

1. Exercisable in four (4) equal annual installments beginning October 21, 2020.

	/s/ Aaron M. Boigon	08/21/2025
	** 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 transactions did Aaron M. Boigon report on the PLBC Form 4?

He reported a sale of 1,500 shares at $41.09 and the exercise/acquisition of 1,500 option shares at an exercise price of $21.45 on 08/21/2025.

How did the transactions affect Boigon's ownership in PLBC?

After the transactions, his direct beneficial ownership was reported as 5,600 shares, with 8,100 options outstanding.

What is the vesting schedule for the reported options?

The options vest in four equal annual installments beginning 10/21/2020, per the filing explanation.

Did the filing indicate use of a Rule 10b5-1 trading plan?

The form does not indicate that the transactions were made pursuant to a Rule 10b5-1(c) plan; no such box is checked in the provided content.

Does this Form 4 show any governance or compliance concerns?

Based on the disclosed transactions and vesting details, the filing reflects routine insider activity and does not identify any explicit governance or compliance issues.