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^*

ELLIOTT WILLIAM E

(Last)

(First)

(Middle)

P.O. BOX 1971

(Street)

QUINCY

95971

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PLUMAS BANCORP [ PLBC ]

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)
02/01/2006

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	02/01/2006	02/02/2006	S/K		11,900	D	$21.0184	62,016⁽¹⁾	I⁽¹⁾	Elliott Family Trust⁽¹⁾
Common stock	02/01/2006	02/02/2006	X/K		16,875	A	$10.7533	78,891⁽²⁾	I⁽²⁾	Elliott Family Trust⁽²⁾
Common stock	02/01/2006	02/02/2006	X/K		3,374	A	$13.1933	82,265⁽²⁾	I⁽²⁾	Elliott Family Trust⁽²⁾
Common stock	02/01/2006	02/02/2006	X/K		1,687	A	$14.1867	83,952⁽³⁾	I⁽³⁾	Elliott Family Trust⁽³⁾

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)
Option to buy common stock	$10.7533	02/01/2006	02/02/2006	X/K			16,875	12/18/2003	12/18/2012	Common stock	16,875	$10.7533	5,061⁽⁴⁾	D
Option to buy common stock	$13.1933	02/01/2006	02/02/2006	X/K			3,374	12/17/2004	12/17/2013	Common stock	3,374	$13.1933	1,687	D
Option to buy common stock	$14.1867	02/01/2006	02/02/2006	X/K			1,687	12/15/2005	12/15/2014	Common stock	1,687	$14.1867	0	D

Explanation of Responses:

1. 6,582 shares, ownership - direct 44,931 shares, ownership - indirect via the Elliott Family Trust 7,776 shares, ownership - indirect via self-directed IRA 2,727 shares, ownership - indirect via self-directed 401(k) Plan

2. Combination of direct holdings and indirect holdings, see final breakdown in footnote 3.

3. 6,582 shares, ownership - direct 66,867 shares, ownership - indirect via Elliott Family Trust 7,776 shares, ownership - indirect via self-directed IRA 2,727 shares, ownership - indirect via self-directed 401(k) Plan

4. 11,813 options were cancelled as a result of Elliott's retirement as President of Plumas Bancorp.

	W. E. Elliott	02/01/2006
	** 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.