HOLLY JAMES C 4

What Happened

• Holly James C, a director of Sierra Bancorp (BSRR), exercised options and sold shares on Feb 5, 2026. She exercised 5,000 options at $17.25 per share (cost $86,250) and concurrently sold 5,000 common shares in an open-market transaction at $37.93 per share for proceeds of approximately $189,666.
• The filing also reports a separate derivative entry showing 5,000 units disposed at $0.00 on the same date; this appears related to the exercise/settlement process reported on the Form 4.

Key Details

• Transaction date: 2026-02-05.
• Exercise: 5,000 shares acquired at $17.25 each — total cash paid $86,250 (code M).
• Sale: 5,000 shares sold in the open market at $37.93 each — total proceeds $189,666 (code S).
• Derivative/settlement line: 5,000 reported disposed at $0.00 (code M) — filing does not specify the exact mechanics in the excerpt provided.
• Shares owned after the transactions: not specified in the provided filing details.
• Filing date: 2026-02-09 — appears to be filed within the required 2 business days (timely), based on the Feb 5 transaction date.
• No 10b5-1 plan or explicit tax-withholding note was provided in the supplied transaction lines.

Context

• Because the exercised shares were sold the same day, this is effectively a cashless exercise followed by a sale of the acquired shares. That is common when insiders exercise option awards to cover exercise costs and taxes.
• Sales by non-executive directors are often routine liquidity events and do not necessarily reflect a change in view about the company; the Form 4 simply reports the legal transactions.