SIERRA BANCORP 10-Q

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS (c) Stock Repurchases In October 2021 the Board approved the 2021 Share Repurchase Plan by authorizing 1,000,000 shares of common stock for repurchase. In conjunction with this action, the Board terminated the current Share Repurchase Plan which authorized 500,000 shares of common stock for repurchase. There are 630,000 shares remaining for repurchase under the current Share Repurchase Plan. ​ The following table provides information concerning the Company’s stock repurchase transactions during the third quarter of 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Repurchases ​ ​ ​ ​ ​ ​ ​ ​ ​ Period ​ Total Number of Shares Purchased (1) ​ ​ Average Price Paid per Share ​ Total Number of Shares Purchased as Part of a Publicly Announced Plan ​ Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plan at the End of the Period January 1, 2022 - January 31, 2022 ​ 15,543 ​ $ 26.85 ​ 15,543 ​ 797,019 February 1, 2021 - February 31, 2022 ​ 118,677 ​ $ 26.69 ​ 118,677 ​ 678,342 March 1, 2021 - March 31, 2022 ​ 48,342 ​ $ 26.51 ​ 48,342 ​ 630,000 Total ​ 182,562 ​ ​ ​ ​ 182,562 ​ ​ (1) These shares do not include the net settlement by employees related to vested, restricted stock awards and do not impact the 630,000 shares available for repurchase under the current repurchase plan. Net settlements of 1,196 shares during the first quarter of 2022 represent instances where employees elect to satisfy their income tax liability related to the vesting of restricted stock through the surrender of a proportionate number of the vested shares to the Company ​ ​ 60 Table of Contents ITEM 3: DEFAULTS UPON SENIOR SECURITIES Not applicable ITEM 4: MINE SAFETY DISCLOSURES Not applicable