Christenson Vonn R 4

What Happened
Vonn R. Christenson, a director of Sierra Bancorp (BSRR), exercised 1,053 option shares and immediately sold those 1,053 shares on May 18, 2026. The exercise price paid was $28.21 per share (total cost $29,705) and the open-market sale price was $38.01 per share (gross proceeds $40,026), implying a pre-tax difference of about $10,321.

Key Details

• Transaction date: May 18, 2026.
• Exercise: 1,053 shares acquired at $28.21/share (total $29,705) — transaction code M.
• Sale: 1,053 shares sold on the open market at $38.01/share (proceeds $40,026) — transaction code S.
• Derivative entry: 1,053 option units marked disposed at $0.00, reflecting conversion/exercise of the derivative (reported as M/Disposed).
• Shares owned after transaction: Not specified in the provided filing details.
• Filing date: May 20, 2026 (filed two days after the transactions) — appears timely; no 10b5-1 plan or tax-withholding footnotes were reported in the provided data.

Context
This was an option exercise followed by an immediate sale of the shares on the same day, a common way for insiders to realize gains from vested options. The filing shows both the exercise (acquisition of shares) and the contemporaneous open-market sale; the derivative "disposed" line indicates the option was converted/terminated upon exercise. This report is factual and does not indicate the insider's future view of the company.