SIERRA BANCORP — Director's Dealing 2009

Feb 18, 2009

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: SIERRA BANCORP (BSRR)
CIK: 0001130144
Period of Report: 2008-12-31

Reporting Person: TIENKEN ROBERT H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-11	Common Stock	G	2400	$.00	Disposed	207911.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-11-20	Stock Option	$19.19	A	2500	Acquired	2018-11-20	Common Stock (2500)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$31.70	2016-11-16	Common Stock (2500)	2500	Direct
Stock Option	$26.58	2017-11-15	Common Stock (2500)	2500	Direct
Stock Option	$9.00	2008-09-10	Common Stock (0)	0	Direct
Stock Option	$6.43	2011-10-11	Common Stock (6.43)	0	Direct

Footnotes

F1: Total options outstanding at $9.00 and $6.43 per share of zero reflects the correction of an inadvertent error (previoisly reported on Form 4 erroneously reflected 40,000 shares at $9.00 per share and 8,000 shares at $6.43 per share outstanding, when such options had been fully exercisted).