SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Gardunio James F

(Last)

(First)

(Middle)

86 N. MAIN STREET

(Street)

PORTERVILLE

93257

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SIERRA BANCORP [ BSRR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP/Chief Credit Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/22/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/22/2020		M		5,000	A	$17.25	5,000	D
Common Stock	10/22/2020		S		5,000	D	$20.7002	0	D
Common Stock	10/22/2020		M		5,000	A	$16.35	5,000	D
Common Stock	10/22/2020		S		5,000	D	$20.7002	0	D
Common Stock	10/22/2020		M		2,450	A	$10.73	2,450	D
Common Stock	10/22/2020		S		2,450	D	$20.7002	0	D
Common Stock	10/23/2020		M		1,550	A	$10.73	1,550	D
Common Stock	10/23/2020		S		1,550	D	$20.7503	0	D
Common Stock	10/23/2020		M		2,700	A	$10.21	2,700	D
Common Stock	10/23/2020		S		2,700	D	$20.7503	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$17.25	10/22/2020		M			5,000	02/18/2016	02/18/2026	Common Stock	5,000	$0	0	D
Stock Options	$16.35	10/22/2020		M			5,000	11/20/2014⁽¹⁾	11/20/2024	Common Stock	5,000	$0	0	D
Stock Options	$10.73	10/22/2020		M			2,450	11/18/2011⁽²⁾	11/18/2020	Common Stock	2,450	$0	1,550	D
Stock Options	$10.73	10/23/2020		M			1,550	11/18/2011⁽²⁾	11/18/2020	Common Stock	1,550	$0	0	D
Stock Options	$10.21	10/23/2020		M			2,700	11/15/2012	11/15/2022	Common Stock	2,700	$0	0	D

Explanation of Responses:

1. This option is immediately vested.

2. Represents date on which first installment of the reported option becomes exercisable. All options reported become cumulatively exercisable in installments of 20% per year commencing one year from the date of grant and ending five years before the expiration of the option.

	/s/ James F. Gardunio	10/23/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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