X0202 4 2006-06-02 1 0001072688 WESTERN SIERRA BANCORP wsba 0001234977 BACCHI CHARLES W 4080 PLAZA GOLDORADO CIRCLE CAMERON PARK CA 95682 1 0 0 0 Common Stock 2006-06-02 4 D 0 19390 D 0 D Options 6.623 2006-06-02 4 H 0 1735 D 2001-02-22 2011-02-22 Common Stock 1735 8890 D Options 9.826 2006-06-02 4 H 0 661 D 2002-01-01 2012-01-01 Common Stock 661 8229 D Options 16.825 2006-06-02 4 H 0 1701 D 2002-12-31 2012-12-31 Common Stock 1701 6528 D Options 20.819 2006-06-02 4 H 0 1728 D 2003-07-01 2013-07-01 Common Stock 1728 4800 D Options 31.333 2006-06-02 4 H 0 600 D 2004-01-01 2014-01-01 Common Stock 600 4200 D Options 30 2006-06-02 4 H 0 1200 D 2004-07-01 2014-07-01 Common Stock 1200 3000 D Options 38.36 2006-06-02 4 H 0 3000 D 2005-01-01 2015-01-01 Common Stock 3000 0 D Disposed of pursuant to the merger of Western Sierra Bancorp ("Western Sierra") with and into Umpqua Holdings Corporation ("Umpqua") (the "Merger"), in exchange for the merger consideration consisting of 1.61 shares of Umpqua common stock per share of Western Sierra common stock. The closing price of Umpqua's common stock on the NASDAQ Stock Market on June 2, 2006, the effective date of the Merger, was $27.58 per share. In connection with the Merger, each outstanding option to acquire Western Sierra common stock was converted into an option to acquire Umpqua common stock as follows: (i) the number of shares of Umpqua common stock issuable upon exercise of the converted option is equal to the number of shares of Western Sierra common stock issuable upon exercise of the Western Sierra option prior to conversion multiplied by 1.61 and (ii) the exercise price of the converted option is equal to the exercise price of the Western Sierra option prior to conversion divided by 1.61. Charles W. Bacchi 2006-06-06