X0303 4 2010-09-16 0000778164 Pacific Ethanol, Inc. PEIX 0001321936 Jones William L 400 CAPITOL MALL, #2060 SACRAMENTO CA 95814 1 0 0 0 Common Stock 2010-09-16 4 S 0 400 .7531 D 724375 D Common Stock 2010-09-16 4 S 0 200 .7532 D 724175 D Common Stock 2010-09-16 4 S 0 100 .7534 D 724075 D Common Stock 2010-09-16 4 S 0 300 .7535 D 723775 D Common Stock 2010-09-16 4 S 0 600 .7541 D 723175 D Common Stock 2010-09-16 4 S 0 200 .7542 D 722975 D Common Stock 2010-09-16 4 S 0 1000 .7543 D 721975 D Common Stock 2010-09-16 4 S 0 100 .7544 D 721875 D Common Stock 2010-09-16 4 S 0 400 .7549 D 721475 D Common Stock 2010-09-16 4 S 0 200 .755 D 721275 D Common Stock 2010-09-16 4 S 0 200 .7551 D 721075 D Common Stock 2010-09-16 4 S 0 1000 .7552 D 720075 D Common Stock 2010-09-16 4 S 0 200 .7553 D 719875 D Common Stock 2010-09-16 4 S 0 500 .7556 D 719375 D Common Stock 2010-09-16 4 S 0 358 .7565 D 719017 D Common Stock 2010-09-16 4 S 0 600 .7567 D 718417 D Common Stock 2010-09-16 4 S 0 100 .7569 D 718317 D Common Stock 2010-09-16 4 S 0 360 .7572 D 717957 D Common Stock 2010-09-16 4 S 0 400 .7573 D 717557 D Common Stock 2010-09-16 4 S 0 400 .7581 D 717157 D Common Stock 2010-09-16 4 S 0 300 .7587 D 716857 D Common Stock 2010-09-16 4 S 0 600 .7594 D 716257 D Common Stock 2010-09-16 4 S 0 300 .7595 D 715957 D Common Stock 2010-09-16 4 S 0 1300 .76 D 714657 D Common Stock 2010-09-16 4 S 0 900 .7601 D 713757 D Common Stock 2010-09-16 4 S 0 1100 .7604 D 712657 D Common Stock 2010-09-16 4 S 0 1400 .761 D 711257 D Common Stock 2010-09-16 4 S 0 900 .7618 D 710357 D Common Stock 2010-09-16 4 S 0 300 .7619 D 710057 D Common Stock 2010-09-16 4 S 0 800 .763 D 709257 D This is Part 2 of 4. There were more than 30 transactions to report. /s/ William L. Jones 2010-09-17