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: TAYLOR KENNETH (EVP/Chief Financial Ofcr)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-11-20	Stock Options	$19.19	A	2000	Acquired	2018-11-20	Common Stock (2000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$6.43	2011-10-11	Common Stock (16500)	16500	Direct
Stock Options	$31.70	2016-11-16	Common Stock (2000)	2000	Direct
Stock Options	$26.58	2017-11-15	Common Stock (2000)	2000	Direct

Footnotes

F1: 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.