McPhaill Kevin J 4

What Happened Kevin J. McPhaill, President and CEO of Sierra Bancorp (BSRR), received two equity awards on 2026-02-12: 6,602 shares (time‑based restricted stock) and 6,602 shares (performance‑based restricted stock), for a total of 13,204 shares. Both awards are reported as acquisitions at $0.00 per share (grant awards), i.e., these are compensation grants rather than open‑market purchases or sales.

Key Details

• Transaction date(s) and price(s): 2026-02-12; 6,602 shares @ $0.00 (time‑based) and 6,602 shares @ $0.00 (performance‑based).
• Shares owned after transaction: not reported on this Form 4.
• Footnotes: F1 — time‑based restricted stock vesting ratably over 3 years, subject to forfeiture; F2 — performance‑based restricted stock vests after 3 years based on achievement of a specified performance goal, subject to forfeiture.
• Filing/timeliness: Form filed 2026-02-13 for a 2026-02-12 transaction (appears timely).

Context Restricted stock grants are compensation awards that typically vest over time or upon meeting targets; they do not represent an immediate cash proceeds event. Performance‑based awards only convert to shares (and thus have realizable value) if specified performance goals are met at the end of the performance period. These grants are routine executive compensation disclosures and are not the same as an insider purchase or sale.