Boyle Hugh F 4

What Happened
Hugh F. Boyle, EVP and Chief Credit Officer of Sierra Bancorp (BSRR), was granted two equity awards on 2026-02-12: 4,026 time‑based restricted shares and 1,342 performance‑based restricted shares. Both grants were reported as awards (transaction code A) with an acquisition price of $0.00, for a combined 5,368 shares. These are compensation awards rather than open‑market purchases or sales.

Key Details

• Transaction date: 2026-02-12 (Form 4 filed 2026-02-13).
• Price: $0.00 per share (award/grant).
• Total shares granted: 4,026 (time‑based) + 1,342 (performance‑based) = 5,368 shares.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • Time‑based award vests ratably over three years and is subject to forfeiture on certain events.
  • Performance award vests at the end of three years based on achievement of a performance goal; number of shares that ultimately vest will be determined by performance and may be forfeited if conditions aren’t met.
• Timeliness: Filing appears timely (transaction date 2026-02-12; Form 4 filed 2026-02-13).
• Transaction code: A = Award/Grant.

Context
These awards are part of employee compensation/retention programs and do not represent a cash purchase or sale on the open market. Time‑based awards will vest over time; performance awards depend on future metrics and may result in fewer or no shares vesting if targets aren’t met. Watch future Form 4s for vesting events or subsequent sales.