Sierra Bancorp Files Definitive Proxy Statement

Ticker: BSRR · Form: DEF 14A · Filed: Apr 9, 2024 · CIK: 1130144

Sentiment: neutral

Topics: DEF 14A, Sierra Bancorp, Executive Compensation, Proxy Statement, Corporate Governance

TL;DR

<b>Sierra Bancorp has filed its Definitive Proxy Statement for the period ending May 22, 2024, detailing executive compensation data for 2021-2023.</b>

AI Summary

SIERRA BANCORP (BSRR) filed a Proxy Statement (DEF 14A) with the SEC on April 9, 2024. Sierra Bancorp filed a Definitive Proxy Statement (DEF 14A) on April 9, 2024. The filing covers the period ending May 22, 2024. The company's fiscal year ends on December 31. Sierra Bancorp is incorporated in California. The filing includes data related to executive compensation, specifically pension and equity awards for PEO and Non-PEO members for the years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking SIERRA BANCORP, this filing contains several important signals. This DEF 14A filing provides shareholders with crucial information regarding executive compensation, allowing them to make informed voting decisions on related proposals. The detailed breakdown of pension and equity awards for key executives is essential for assessing corporate governance and alignment of management interests with shareholder value.

Risk Assessment

Risk Level: — SIERRA BANCORP shows moderate risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance without immediate financial performance indicators.

Analyst Insight

Review the executive compensation details within the DEF 14A to understand pay structures and potential impacts on shareholder value.

Key Numbers

Key Players & Entities

FAQ

When did SIERRA BANCORP file this DEF 14A?

SIERRA BANCORP filed this Proxy Statement (DEF 14A) with the SEC on April 9, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by SIERRA BANCORP (BSRR).

Where can I read the original DEF 14A filing from SIERRA BANCORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SIERRA BANCORP.

What are the key takeaways from SIERRA BANCORP's DEF 14A?

SIERRA BANCORP filed this DEF 14A on April 9, 2024. Key takeaways: Sierra Bancorp filed a Definitive Proxy Statement (DEF 14A) on April 9, 2024.. The filing covers the period ending May 22, 2024.. The company's fiscal year ends on December 31..

Is SIERRA BANCORP a risky investment based on this filing?

Based on this DEF 14A, SIERRA BANCORP presents a moderate-risk profile. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance without immediate financial performance indicators.

What should investors do after reading SIERRA BANCORP's DEF 14A?

Review the executive compensation details within the DEF 14A to understand pay structures and potential impacts on shareholder value. The overall sentiment from this filing is neutral.

How does SIERRA BANCORP compare to its industry peers?

Sierra Bancorp operates within the commercial banking sector.

Are there regulatory concerns for SIERRA BANCORP?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information to shareholders.

Industry Context

Sierra Bancorp operates within the commercial banking sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information to shareholders.

What Investors Should Do

  1. Analyze the executive compensation tables for PEO and Non-PEO members.
  2. Review the details of pension and equity awards granted in 2021, 2022, and 2023.
  3. Assess the significance of any adjustments or changes in fair value for awards.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure for executive compensation and shareholder meeting matters, not a direct comparison to a prior financial period's performance.

Filing Stats: 4,795 words · 19 min read · ~16 pages · Grade level 11.5 · Accepted 2024-04-09 09:01:14

Filing Documents

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14A-12 SIERRA BANCORP (Name of registrant as specified in its charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS To Be Held May 22, 2024 TO THE SHAREHOLDERS OF SIERRA BANCORP: The Annual Meeting of Shareholders (the "Meeting") of Sierra Bancorp will be held in person at 61 North Second Street, Porterville, California 93257, at 9:00 a.m. on Wednesday, May 22, 2024. There will be no online participation in the meeting offered during 2024. At the annual meeting, you will be asked to consider and vote on the following matters: 1. Election of Directors. To elect the following six (6) persons listed below as Class I directors to serve until their successors are elected and qualified: ccc ccc Class I James C. Holly Morris A. Tharp Kevin J. McPhaill Lynda B. Scearcy Susan M. Abundis Michele M. Gil 2. Ratification of Appointment of Independent Accountants. To ratify the appointment of RSM US LLP as the Company's independent registered public accounting firm for 2024. 3. Advisory Vote on Executive Compensation. To approve, on an advisory and non-binding basis, the compensation paid to the Company's Named Executive Officers. 4. To transact such other business as may properly come before the Meeting and any and all adjournments thereof. The Board of Directors recommends that you vote "FOR" the election of the above nominees, and "FOR" Proposals 2 through 3. Important Notice Regarding the Availability of Proxy Materials: On or about April 9, 2024, we mailed to our shareholders a Notice Regarding the Availability of Proxy Materials, or the Notice, containing instructions for how to access our Proxy Statement for the Annual Meeting and our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. As described in the Notice, the Proxy Statement and 2023 Annual Report can be accessed by visiting www.ProxyVote.com and using the control number located on the Notice. The Notice also provides instructions on how to vote your shares electronically at the Annual Meeting, by internet or by telephone, as well as how to receive a paper copy of the Proxy Statement and 2023 Annual Report and vote your shares by mail using a proxy card. Only shareholders of record at the close of business on March 28, 2024, are entitled to notice of and to vote at the annual meeting. Whether you plan to attend the Annual Meeting or not, please sign, date and return the enclosed proxy card in the postage paid envelope provided, or vote your shares electronically or by telephone, so that as many shares as possible may be represented. The vote of every shareholder is important and we will appreciate your cooperation in returning your executed proxy promptly. Each proxy is revocable and will not affect your right to vote in person if you attend the Annual Meeting. If you hold your shares in certificate or registered book entry form and attend the Meeting, you may simply revoke your previously submitted proxy and vote your shares at that time. If your shares are 2 held by a broker or otherwise not registered in your name, you will need additional documentation from your record holder to vote your shares personally at the Meeting. If you hold your shares in certificate or registered book entry form, please indicate on the proxy whether or not you expect to attend. We appreciate your continuing support and look forward to seeing you at the Annual Meeting. DATED: April 9, 2024 By Order of the Board of Directors Alexandra Blazar Secretary 3 SIERRA BANCORP 86 North Main Street Porterville, California 93257 (559) 782-4900 PROXY STATEMENT ANNUAL MEETING OF SHAREHOLDERS To Be Held May 22, 2024 INTRODUCTION General This Proxy Statement is furnished in connection with the solicitation of proxies for use at the Annual Meeting of Shareholders (the "Meeting") of Sierra Bancorp (the "Company"), to be held at 61 North Second Street, Porterville, California, at 9:00 a.m. on Wednesday, May 22, 2024, and at any and all adjournments thereof. We first made this Proxy Statement and accompanying Notice available to shareholders on approximately April 10, 2024. The matters to be considered and voted upon at the Meeting will be: 1. Election of Dir

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