SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

PAYNE DAVID L

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTAMERICA BANCORPORATION [ WABC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman, President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/31/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/31/2008		S		200	D	$48.2525	6,422	D
Common Stock	01/31/2008		M		400	A	$34.5625	6,822	D
Common Stock	01/31/2008		S		400	D	$48.255	6,422	D
Common Stock	01/31/2008		M		1,700	A	$34.5625	8,122	D
Common Stock	01/31/2008		S		1,700	D	$48.26	6,422	D
Common Stock	01/31/2008		M		700	A	$34.5625	7,122	D
Common Stock	01/31/2008		S		700	D	$48.27	6,422	D
Common Stock	01/31/2008		M		800	A	$34.5625	7,222	D
Common Stock	01/31/2008		S		800	D	$48.28	6,422	D
Common Stock	01/31/2008		M		100	A	$34.5625	6,522	D
Common Stock	01/31/2008		S		100	D	$48.3	6,422	D
Common Stock	01/31/2008		M		1,500	A	$34.5625	7,922	D
Common Stock	01/31/2008		S		1,500	D	$48.33	6,422	D
Common Stock	01/31/2008		M		100	A	$34.5625	6,522	D
Common Stock	01/31/2008		S		100	D	$48.34	6,422	D
Common Stock	01/31/2008		M		1,940	A	$34.5625	8,362	D
Common Stock	01/31/2008		S		1,940	D	$48.35	6,422	D
Common Stock	01/31/2008		M		100	A	$34.5625	6,522	D
Common Stock	01/31/2008		S		100	D	$48.36	6,422	D
Common Stock	01/31/2008		M		600	A	$34.5625	7,022	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			200	01/28/2000⁽¹⁾	01/28/2009	Common Stock	200	$0	154,805	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			900	01/28/2000⁽¹⁾	01/28/2009	Common Stock	900	$0	153,905	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			566	01/28/2000⁽¹⁾	01/28/2009	Common Stock	566	$0	153,339	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			200	01/28/2000⁽¹⁾	01/28/2009	Common Stock	200	$0	153,139	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			100	01/28/2000⁽¹⁾	01/28/2009	Common Stock	100	$0	153,039	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			200	01/28/2000⁽¹⁾	01/28/2009	Common Stock	200	$0	152,839	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			73	01/28/2000⁽¹⁾	01/28/2009	Common Stock	73	$0	152,766	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			800	01/28/2000⁽¹⁾	01/28/2009	Common Stock	800	$0	151,966	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			800	01/28/2000⁽¹⁾	01/28/2009	Common Stock	800	$0	151,166	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			2,100	01/28/2000⁽¹⁾	01/28/2009	Common Stock	2,100	$0	149,066	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			700	01/28/2000⁽¹⁾	01/28/2009	Common Stock	700	$0	148,366	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			400	01/28/2000⁽¹⁾	01/28/2009	Common Stock	400	$0	147,966	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			1	01/28/2000⁽¹⁾	01/28/2009	Common Stock	1	$0	147,965	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			305	01/28/2000⁽¹⁾	01/28/2009	Common Stock	305	$0	147,660	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			100	01/28/2000⁽¹⁾	01/28/2009	Common Stock	100	$0	147,560	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			100	01/28/2000⁽¹⁾	01/28/2009	Common Stock	100	$0	147,460	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			100	01/28/2000⁽¹⁾	01/28/2009	Common Stock	100	$0	147,360	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			21	01/28/2000⁽¹⁾	01/28/2009	Common Stock	21	$0	147,339	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			200	01/28/2000⁽¹⁾	01/28/2009	Common Stock	200	$0	147,139	D
Non-Qualified Stock Option (right to buy)	$34.5625	01/31/2008		M			75	01/28/2000⁽¹⁾	01/28/2009	Common Stock	75	$0	147,064	D

Explanation of Responses:

1. Options vest ratably over three years beginning one year from date of grant.

Remarks:

This is filing #4 of 9 filings for this date for the reporting person.

	By: /s/ David L. Payne	02/04/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.