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SIERRA BANCORP Director's Dealing 2008

Feb 5, 2008

33049_dirs_2008-02-04_ae9bbb8f-f3dd-4c96-962b-06c36a6853e4.zip

Director's Dealing

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SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

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

Reporting Person: McPhaill Kevin J (Chief Banking Officer/EVP)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
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 6500.00 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Option $28.14 2011-08-17 Common Stock (15000.00) 15000.00 Direct
Stock Option $31.70 2016-11-16 Common Stock (2000.00) 2000.00 Direct

Footnotes

F1: Vesting at a rate of 3,000 shares per year for 5 years to expire 8/16/16. Clerical error in not filing at time of grant.

F2: 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.