SIERRA BANCORP — Director's Dealing 2008

Feb 5, 2008

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: SIERRA BANCORP (BSRR)
CIK: 0001130144
Period of Report: 2007-12-31

Reporting Person: TAYLOR KENNETH (SVP Chief Financial Ofcr)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-31	Stock Option	$31.70	A	2000	Acquired	2016-11-16	Common Stock (2000.00)	Direct
2007-11-15	Stock Option	$26.58	A	2000	Acquired	2018-11-15	Common Stock (2000.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3500.00	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$6.43	2011-10-11	Common Stock (5000.00)	5000.00	Direct
Stock Option	$6.43	2011-10-11	Common Stock (5000.00)	5000.00	Direct
Stock Option	$6.43	2011-10-11	Common Stock (5000.00)	5000.00	Direct
Stock Option	$31.70	2016-11-16	Common Stock (2000.00)	2000.00	Direct
Stock Options	$6.43	2011-10-11	Common Stock (1000.00)	1000.00	Direct
Stock Options	$6.43	2011-10-11	Common Stock (5000.00)	5000.00	Direct

Footnotes

F1: Options vesting at rate of 20% per year for 5 years to expire 11/16/2016. Clerical error in not filing at time of grant.