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^*

Jones William L

(Last)

(First)

(Middle)

400 CAPITOL MALL, #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)
11/18/2010

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	11/18/2010		S		600	D	$0.74	598,099	D
Common Stock	11/18/2010		S		1,000	D	$0.7402	597,099	D
Common Stock	11/18/2010		S		500	D	$0.7403	596,599	D
Common Stock	11/18/2010		S		500	D	$0.7405	596,099	D
Common Stock	11/18/2010		S		500	D	$0.7408	595,599	D
Common Stock	11/18/2010		S		500	D	$0.741	595,099	D
Common Stock	11/18/2010		S		400	D	$0.7413	594,699	D
Common Stock	11/18/2010		S		1,300	D	$0.7416	593,399	D
Common Stock	11/18/2010		S		1,200	D	$0.7419	592,199	D
Common Stock	11/18/2010		S		700	D	$0.742	591,499	D
Common Stock	11/18/2010		S		300	D	$0.7421	591,199	D
Common Stock	11/18/2010		S		1,300	D	$0.7422	589,899	D
Common Stock	11/18/2010		S		200	D	$0.743	589,699	D
Common Stock	11/18/2010		S		1,500	D	$0.7431	588,199	D
Common Stock	11/18/2010		S		2,100	D	$0.7432	586,099	D
Common Stock	11/18/2010		S		400	D	$0.7438	585,699	D
Common Stock	11/18/2010		S		300	D	$0.744	585,399	D
Common Stock	11/18/2010		S		1,400	D	$0.7441	583,999	D
Common Stock	11/18/2010		S		100	D	$0.7444	583,899	D
Common Stock	11/18/2010		S		100	D	$0.7447	583,799	D
Common Stock	11/18/2010		S		120	D	$0.7448	583,679	D
Common Stock	11/18/2010		S		400	D	$0.7449	583,279	D
Common Stock	11/18/2010		S		3,800	D	$0.745	579,479	D
Common Stock	11/18/2010		S		600	D	$0.7451	578,879	D
Common Stock	11/18/2010		S		700	D	$0.7454	578,179	D
Common Stock	11/18/2010		S		300	D	$0.7456	577,879	D
Common Stock	11/18/2010		S		200	D	$0.7457	577,679	D
Common Stock	11/18/2010		S		600	D	$0.7458	577,079	D
Common Stock	11/18/2010		S		1,600	D	$0.746	575,479	D
Common Stock	11/18/2010		S		100	D	$0.7463	575,379	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:

Remarks:

This is Part 1 of 4. There were more than 30 transactions to report.

	/s/ William L. Jones	11/18/2010
	** 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.
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.