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^*

PAYNE DAVID L

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTAMERICA BANCORPORATION [ WABC ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman, President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/25/2007

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)
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	10/25/2007		M		100	A	$32.7917	100	D
Common Stock	10/25/2007		S		100	D	$46.67	0	D
Common Stock	10/25/2007		M		200	A	$32.7917	200	D
Common Stock	10/25/2007		S		200	D	$46.62	0	D
Common Stock	10/25/2007		M		300	A	$32.7917	300	D
Common Stock	10/25/2007		S		300	D	$46.59	0	D
Common Stock	10/25/2007		M		100	A	$32.7917	100	D
Common Stock	10/25/2007		S		100	D	$46.58	0	D
Common Stock	10/25/2007		M		100	A	$32.7917	100	D
Common Stock	10/25/2007		S		100	D	$46.53	0	D
Common Stock	10/25/2007		M		100	A	$32.7917	100	D
Common Stock	10/25/2007		S		100	D	$46.52	0	D
Common Stock	10/25/2007		M		1,300	A	$32.7917	1,300	D
Common Stock	10/25/2007		S		1,300	D	$46.49	0	D
Common Stock	10/25/2007		M		107	A	$32.7917	107	D
Common Stock	10/25/2007		S		107	D	$46.48	0	D
Common Stock	10/25/2007		M		111	A	$32.7917	111	D
Common Stock	10/25/2007		S		111	D	$46.47	0	D
Common Stock	10/25/2007		M		189	A	$32.7917	189	D
Common Stock	10/25/2007		S		189	D	$46.46	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)
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)
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			2,200	01/21/1999⁽¹⁾	01/21/2008	Common Stock	2,200	$0	63,084	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			2,170	01/21/1999⁽¹⁾	01/21/2008	Common Stock	2,170	$0	60,914	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			2,400	01/21/1999⁽¹⁾	01/21/2008	Common Stock	2,400	$0	58,514	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			100	01/21/1999⁽¹⁾	01/21/2008	Common Stock	100	$0	58,414	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			3,000	01/21/1999⁽¹⁾	01/21/2008	Common Stock	3,000	$0	55,414	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,998	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,998	$0	53,416	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,997	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,997	$0	51,419	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,935	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,935	$0	49,484	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			2,111	01/21/1999⁽¹⁾	01/21/2008	Common Stock	2,111	$0	47,373	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			7,313	01/21/1999⁽¹⁾	01/21/2008	Common Stock	7,313	$0	40,060	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			3,800	01/21/1999⁽¹⁾	01/21/2008	Common Stock	3,800	$0	36,260	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,318	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,318	$0	34,942	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,282	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,282	$0	33,660	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			3,716	01/21/1999⁽¹⁾	01/21/2008	Common Stock	3,716	$0	29,944	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			2,000	01/21/1999⁽¹⁾	01/21/2008	Common Stock	2,000	$0	27,944	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,800	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,800	$0	26,144	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			3,600	01/21/1999⁽¹⁾	01/21/2008	Common Stock	3,600	$0	22,544	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			3,411	01/21/1999⁽¹⁾	01/21/2008	Common Stock	3,411	$0	19,133	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			7,794	01/21/1999⁽¹⁾	01/21/2008	Common Stock	7,794	$0	11,339	D
Non-Qualified Stock Option (right to buy)	$32.7917	10/25/2007		M			1,756	01/21/1999⁽¹⁾	01/21/2008	Common Stock	1,756	$0	9,583	D

Explanation of Responses:

1. Options vest ratably over three years beginning one year from date of grant.

Remarks:

This is filing #4 of 9 filings for this date.

	/s/David L. Payne	10/29/2007
	** 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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