Olague Michael 4
4 · SIERRA BANCORP · Filed Feb 13, 2026
Research Summary
AI-generated summary of this filing
Sierra Bancorp EVP Michael Olague Receives Restricted Stock Award
What Happened
Michael Olague, Executive Vice President and Chief Banking Officer of Sierra Bancorp (BSRR), was granted two restricted stock awards on February 12, 2026 totaling 6,950 shares (3,475 shares + 3,475 shares). Both awards were reported as acquisitions at $0.00 per share (standard for equity awards issued as compensation rather than open-market purchases).
Key Details
- Transaction date: 2026-02-12; Form 4 filed 2026-02-13 (timely).
- Transaction type/code: A = Award/Grant. Price reported: $0.00 per share.
- Shares granted: 3,475 (time-based) + 3,475 (performance-based) = 6,950 total.
- Shares owned after the transaction: not specified in the provided filing details.
- Footnotes:
- F1: Time-based restricted stock vests ratably over three years and is subject to forfeiture on certain events.
- F2: Performance-based restricted stock vests at the end of three years contingent on achievement of specified performance goals; subject to forfeiture if conditions are not met.
- No 10b5-1 plan, tax withholding, or late-filing flag noted in the provided information.
Context
Restricted stock awards are compensation, not open-market purchases or sales. Time-based awards vest over time as employment continues; performance awards only vest if specified goals are met. Such grants are common for executives and reflect pay structure rather than an immediate buy/sell signal.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-12+3,475→ 23,989 total - Award
Common Stock
[F2]2026-02-12+3,475→ 27,464 total
- 8,809
Common Stock
Footnotes (2)
- [F1]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.
- [F2]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.