Management Change/Compensation (Form 8-K)

Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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On April 17, 2026, Registrant and its wholly owned subsidiary, Bank of the Sierra (collectively, the "Company"), terminated the employment of William J. Wade II, Executive Vice President & Chief Operations Officer, as part of an organizational realignment. In connection with the termination and in accordance with his employment agreement dated July 7, 2025, Mr. Wade is entitled to severance of a payment equal to twelve (12) months' salary and reimbursement for health insurance premiums for a period of twelve (12) months. As a condition to receiving this severance, Mr. Wade must sign a release and waiver agreement in favor of the Company, the form of which was attached to his employment agreement, within 21 days of employment termination.

In connection with Mr. Wade's termination, Christopher Treece, age 57, Executive Vice President & Chief Financial Officer will also assume the role of Chief Operations Officer. Mr. Treece has served as Executive Vice President and Chief Financial Officer of the Company since January 2020. The Board of Directors of the Company approved an amendment to the employment agreement of Mr. Treece to reflect his new role and adjusted compensation of an increase of base salary by $25,000 per year to $466,000 per year as a result of his appointment as Chief Operations Officer. The amendment was signed and became effective on April 17, 2026.

On April 17, 2026, Marc Wolfe was appointed Principal Accounting Officer of the Company. Mr. Wolfe, currently 35 years old, holds both a Bachelor of Business Administration and a Master of Business Administration from National University. Mr. Wolfe has been with the Company since September 2015, serving in roles of increasing responsibility within accounting and finance, including Assistant Controller and Financial Reporting Officer. On January 1, 2026, Mr. Wolfe was promoted to Senior Vice President and Corporate Controller.

There are no arrangements or undertakings pursuant to which Mr. Wolfe was selected as Principal Accounting Officer. There are no family relationships among any of the Company's directors or executive officers and Mr. Wolfe. There are no related party transactions between the Company and Mr. Wolfe.