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		600	D	$0.6232	873,301	D
Common Stock	08/19/2010		S		500	D	$0.6239	872,801	D
Common Stock	08/19/2010		S		300	D	$0.624	872,501	D
Common Stock	08/19/2010		S		500	D	$0.6241	872,001	D
Common Stock	08/19/2010		S		100	D	$0.6242	871,901	D
Common Stock	08/19/2010		S		100	D	$0.6243	871,801	D
Common Stock	08/19/2010		S		200	D	$0.6245	871,601	D
Common Stock	08/19/2010		S		200	D	$0.6246	871,401	D
Common Stock	08/19/2010		S		800	D	$0.6249	870,601	D
Common Stock	08/19/2010		S		100	D	$0.625	870,501	D
Common Stock	08/19/2010		S		300	D	$0.6251	870,201	D
Common Stock	08/19/2010		S		1,100	D	$0.6253	869,101	D
Common Stock	08/19/2010		S		1,800	D	$0.6254	867,301	D
Common Stock	08/19/2010		S		800	D	$0.6256	866,501	D
Common Stock	08/19/2010		S		500	D	$0.6257	866,001	D
Common Stock	08/19/2010		S		200	D	$0.6258	865,801	D
Common Stock	08/19/2010		S		1,000	D	$0.626	864,801	D
Common Stock	08/19/2010		S		2,100	D	$0.6261	862,701	D
Common Stock	08/19/2010		S		450	D	$0.6262	862,251	D
Common Stock	08/19/2010		S		1,200	D	$0.6263	861,051	D
Common Stock	08/19/2010		S		1,300	D	$0.6264	859,751	D
Common Stock	08/19/2010		S		300	D	$0.6266	859,451	D
Common Stock	08/19/2010		S		600	D	$0.6267	858,851	D
Common Stock	08/19/2010		S		200	D	$0.6268	858,651	D
Common Stock	08/19/2010		S		400	D	$0.6272	858,251	D
Common Stock	08/19/2010		S		200	D	$0.6277	858,051	D
Common Stock	08/19/2010		S		400	D	$0.6278	857,651	D
Common Stock	08/19/2010		S		600	D	$0.628	857,051	D
Common Stock	08/19/2010		S		100	D	$0.6281	856,951	D
Common Stock	08/19/2010		S		100	D	$0.6282	856,851	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 2 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.
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.