Sierra establishes Director Emeritus role with three-year retirement benefit equal to 50% of board retainer

Sierra established a Director Emeritus position and adopted a Retirement Plan providing three years of benefits equal to 50% of the prior 12-month board cash retainer.

Key Highlights:

• Plan effective July 23, 2026 to provide retirement benefits for qualified non-employee directors of Sierra and Bank of the Sierra.
• Eligibility requires voluntary retirement after meeting minimum service years and executing a Director Emeritus Agreement.
• Annual benefit equals 50% of the annual cash retainer (excluding committee retainers) from the prior 12 months.
• Benefit payable for three years and administered by the Board or a Board-appointed committee.

Original SEC Filing:

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