UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
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Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b)On July 23, 2024, Jennifer A. Johnson, Executive Vice President & Chief Administration Officer, announced her retirement from the Registrant and its wholly owned subsidiary, Bank of the Sierra (“Bank”) to be effective on August 22, 2024. In connection with the retirement, the Company and Ms. Johnson mutually agreed to terminate her employment agreement dated January 17, 2020 (as amended). When her employment and employment agreement terminate on August 22, Ms. Johnson will receive a severance payment of one (1) year of her base compensation and will receive reimbursement for health insurance premiums for a period of twelve (12) months in accordance with her employment agreement. As a condition to receiving this severance, Ms. Johnson is required to sign a release and waiver agreement in favor of the Registrant and Bank, the form of which was attached to her employment agreement.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SIERRA BANCORP | ||
Dated: July 25, 2024 | By: | /s/ Christopher G. Treece |
Christopher G. Treece | ||
Executive Vice President & | ||
Chief Financial Officer | ||