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: BERRA ALBERT L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-19	Common Stock	G	7000	$.00	Disposed	157958	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30793	Indirect
Common Stock	80000	Indirect
Common Stock	18036	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$19.19	2018-11-20	Common Stock (2500)	2500	Direct
Stock Option	$26.58	2017-11-15	Common Stock (2500)	2500	Direct
Stock Option	$31.70	2016-11-16	Common Stock (2500)	2500	Direct
Stock Option	$6.43	2011-10-11	Common Stock (25000)	25000	Direct
Stock Option	$9.00	2008-09-10	Common Stock (0)	0	Direct

Footnotes

F1: These figures represent corrections from information previously reported on Form 4's. 89,935 shares were previously underreported since February 2007 due to a computational error at that time, and 23,500 shares were erroneously reported as transferred by gift rather than as transferred to indirect ownship. Also reflects correction of previous reporting in which the two indirect ownership amounts were previously reported as direct.

F2: Total options outstanding at $9.00, $6.43 and $26.58, per share, respectively, reflect the correction of inadvertent errors (previous reports on Form 4 erroneously reflected outstanding amounts as 30,000, 40,000 and 2,500 shares, respectively.

F3: Total options outstanding at $9.00 and $6.43 per share, respectively, reflect the correction of inadvertent errors (previous reports on Form 4 erroneously reflected outstanding amounts as 30,000 and 40,000 shares, respectively.