Olague Michael 4

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.