The cluster is routine and non-informative: both sales followed option exercises, a common pattern for liquidity/vesting. The dollar value is trivial relative to market cap. No bearish read-through. Monitor next quarterly filing for any fundamental changes, but this cluster alone does not warrant action.
Price Chart
Executive Summary
Two insiders at Sierra Bancorp sold shares totaling $422K in open-market transactions within a week. CFO Christopher Treece sold $382K after exercising options, and Director Vonn Christenson sold $40K after a derivative exercise. The sales represent 0.08% of market cap, falling below the 0.1% materiality threshold, and are likely liquidity-driven following option exercises rather than a bearish signal.
Key Financial Metrics
Key Facts
- CFO Treece sold 10,000 shares at $38.18 for $382K on May 22, after exercising options at $27.11/share
- Director Christenson sold 1,053 shares at $38.01 for $40K on May 18, after exercising options at $28.21/share
- Total cluster sales of $422K represent 0.08% of BSRR's $504M market cap
- Both sales followed derivative exercises, consistent with tax planning or diversification, not informed selling
- No open-market purchases in the cluster
Financial Impact
Total insider sales of $422K, or 0.08% of market cap — immaterial relative to company size
Risk Factors
- CFO selling $382K could be misinterpreted as bearish by some market participants
- If the company reports weak earnings next quarter, these sales may be viewed retrospectively as informed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BSRR-1779488940131 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | — | awaiting T+60 | — | — |
Oct 23, 2026 3d ago | 8-K | $41.74 | awaiting T+60 | — | $42.30 (+1.34%) |
Jul 27, 2026 13w ago | 8-K | $41.16 $39.23 | ▲ +4.69% | ▲ +8.39% | $42.30 (−2.77%) |
Jul 27, 2026 13w ago | 8-K | $41.16 $39.23 | ▼ −4.69% | ▼ −8.39% | $42.30 (+2.77%) |
Jul 24, 2026 13w ago | 8-K | $41.88 $39.23 | ▼ −6.33% | ▼ −10.06% | $42.30 (+1.00%) |
May 29, 2026 21w ago | Insider Cluster | $37.68 $39.46 | ▲ +4.72% | ▲ +3.49% | $42.30 (+12.26%) |
May 22, 2026 22w ago | Insider Cluster | $38.44 $39.72 | ▲ +3.33% | ▲ +0.61% | $42.30 (+10.04%) |
May 4, 2026 25w ago | 8-K | $35.82 $41.05 | ▲ +14.60% | ▲ +12.74% | $42.30 (+18.09%) |
Apr 27, 2026 26w ago | 8-K | $36.82 $41.47 | ▲ +12.64% | ▲ +7.86% | $42.30 (+14.89%) |
Apr 24, 2026 26w ago | 8-K | $36.01 $41.86 | ▲ +16.24% | ▲ +11.16% | $42.30 (+17.46%) |
US Market Status
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