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 0 200 .7794 D 679157 D Common Stock 2010-09-16 4 S 0 1000 .78 D 678157 D Common Stock 2010-09-16 4 S 0 1600 .7889 D 676557 D The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan. Mr. Jones holds 676,557 shares of common stock directly, 50,000 shares of common stock underlying options, 19,230 shares of common stock underlying a warrant and 50,346 shares of common stock underlying Series B Preferred Stock. This is Part 4 of 4. /s/ William L. Jones 2010-09-17