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

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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^*

Jones William L

(Last)

(First)

(Middle)

400 CAPITOL MALL, SUITE 2060

(Street)

SACRAMENTO

95814

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Pacific Ethanol, Inc. [ PEIX ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2010

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	08/19/2010		S		400	D	$0.6345	838,907	D
Common Stock	08/19/2010		S		100	D	$0.6346	838,807	D
Common Stock	08/19/2010		S		500	D	$0.6348	838,307	D
Common Stock	08/19/2010		S		200	D	$0.6349	838,107	D
Common Stock	08/19/2010		S		1,100	D	$0.635	837,007	D
Common Stock	08/19/2010		S		500	D	$0.6351	836,507	D
Common Stock	08/19/2010		S		2,000	D	$0.6355	834,507	D
Common Stock	08/19/2010		S		3,600	D	$0.6356	830,907	D
Common Stock	08/19/2010		S		300	D	$0.6357	830,607	D
Common Stock	08/19/2010		S		450	D	$0.636	830,157	D
Common Stock	08/19/2010		S		100	D	$0.6363	830,057	D
Common Stock	08/19/2010		S		100	D	$0.6364	829,957	D
Common Stock	08/19/2010		S		500	D	$0.6368	829,457	D
Common Stock	08/19/2010		S		400	D	$0.637	829,057	D
Common Stock	08/19/2010		S		100	D	$0.6371	828,957	D
Common Stock	08/19/2010		S		600	D	$0.6373	828,357	D
Common Stock	08/19/2010		S		400	D	$0.6379	827,957	D
Common Stock	08/19/2010		S		100	D	$0.6384	827,857	D
Common Stock	08/19/2010		S		200	D	$0.6386	827,657	D
Common Stock	08/19/2010		S		200	D	$0.6388	827,457	D
Common Stock	08/19/2010		S		100	D	$0.6389	827,357	D
Common Stock	08/19/2010		S		200	D	$0.6392	827,157	D
Common Stock	08/19/2010		S		100	D	$0.64	827,057	D
Common Stock	08/19/2010		S		500	D	$0.6466	826,557⁽¹⁾	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)

Explanation of Responses:

1. Mr. Jones holds 826,557 shares of common stock directly, 50,000 shares of common stock underlying options, 19,230 shares of common stock underlying a warrant and 50,346 shares of common stock underlying Series B Preferred Stock.

Remarks:

This is part 4 of 4.

	/s/ William L. Jones	08/20/2010
	** 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.
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