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*
Laitsch Marshall
(Last) (First) (Middle)
525 J STREET
(Street)
SACRAMENTO CA 95814
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PLACER SIERRA BANCSHARES [ PLSB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Pres., So. Calif. Div.
3. Date of Earliest Transaction (Month/Day/Year)
05/31/2007
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)
Code V Amount (A) or (D) Price
Common Stock 05/31/2007 F 608 D $28 1,092 D
Common Stock 06/01/2007 C 1,000(1) D $0 0 D
Common Stock 06/01/2007 D 1,700(2) D $0 0 D
Common Stock 06/01/2007 D 1,092(3) D $0 0 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock option (right to buy) $27.63 06/01/2007 D 6,250 01/03/2006(5) 01/03/2015 Common Stock 6,250 $0(4) 0 D
Stock option (right to buy) $22.66 06/01/2007 D 3,750 03/24/2006(7) 03/24/2015 Common Stock 3,750 $0(6) 0 D
Stock option (right to buy) $27.63 06/01/2007 D 6,250 01/03/2007(9) 01/03/2015 Common Stock 6,250 $0(8) 0 D
Stock option (right to buy) $22.66 06/01/2007 D 3,750 03/24/2007(11) 03/24/2015 Common Stock 3,750 $0(10) 0 D
Stock option (right to buy) $27.63 06/01/2007 D 6,250 01/03/2008(13) 01/03/2015 Common Stock 6,250 $0(12) 0 D
Stock option (right to buy) $22.66 06/01/2007 D 3,750 03/24/2008(15) 03/24/2015 Common Stock 3,750 $0(14) 0 D
Stock option (right to buy) $27.63 06/01/2007 D 6,250 01/03/2009(17) 01/03/2015 Common Stock 6,250 $0(16) 0 D
Stock option (right to buy) $22.66 06/01/2007 D 3,750 03/24/2009(19) 03/24/2015 Common Stock 3,750 $0(18) 0 D
Explanation of Responses:
1. Shares disposed pursuant to a merger between the Issuer and Wells Fargo & Company pursuant to which each share of Issuer common stock was exchanged for 0.7788 shares of Wells Fargo & Company common stock on the effective date of the merger.
2. See Footnote 1.
3. See Footnote 1.
4. In the merger of the Issuer and Wells Fargo & Company, each outstanding option to purchase the Issuer's common stock was converted into the right to acquire Wells Fargo & Company common stock on substantially the same terms, except that the number of options was adjusted by multiplying the number of Issuer options by 0.7788, the grnat price was adjusted by dividing the issuer grant price by 0.7788 and the options became immediately exercisable at the effective time of the merger.
5. See Footnote 4.
6. See Footnote 4.
7. See Footnote 4.
8. See Footnote 4.
9. See Footnote 4.
10. See Footnote 4.
11. See Footnote 4.
12. See Footnote 4.
13. See Footnote 4.
14. See Footnote 4.
15. See Footnote 4.
16. See Footnote 4.
17. See Footnote 4.
18. See Footnote 4.
19. See Footnote 4.
/s/ Angelee J. Harris, Attorney-in-fact 10/15/2007
** 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).
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