Edgar Filing: Jones William L

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Jones William L

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)

(Last)

(First)

(Middle)

400 CAPITOL MALL, #2060

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2010

(Street)

SACRAMENTO, CA 95814

4. If Amendment, Date 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

(City)

(State)

(Zip)

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	07/01/2010		S		400	D	$ 0.5398	1,003,870	D
Common Stock	07/01/2010		S		600	D	$ 0.54	1,003,270	D
Common Stock	07/01/2010		S		1,100	D	$ 0.5403	1,002,170	D
Common Stock	07/01/2010		S		300	D	$ 0.5432	1,001,870	D
Common Stock	07/01/2010		S		800	D	$ 0.5434	1,001,070	D
Common Stock	07/01/2010		S		400	D	$ 0.5435	1,000,670	D
Common Stock	07/01/2010		S		200	D	$ 0.5436	1,000,470	D
Common Stock	07/01/2010		S		2,100	D	$ 0.5449	998,370	D
Common Stock	07/01/2010		S		200	D	$ 0.5462	998,170	D
Common Stock	07/01/2010		S		600	D	$ 0.5466	997,570	D
Common Stock	07/01/2010		S		1,200	D	$ 0.5469	996,370	D
Common Stock	07/01/2010		S		100	D	$ 0.5472	996,270	D
Common Stock	07/01/2010		S		600	D	$ 0.5474	995,670	D
Common Stock	07/01/2010		S		400	D	$ 0.5475	995,270	D
Common Stock	07/01/2010		S		100	D	$ 0.5479	995,170	D
Common Stock	07/01/2010		S		300	D	$ 0.5486	994,870	D
Common Stock	07/01/2010		S		100	D	$ 0.5487	994,770	D
Common Stock	07/01/2010		S		600	D	$ 0.5491	994,170	D
Common Stock	07/01/2010		S		600	D	$ 0.5493	993,570	D
Common Stock	07/01/2010		S		200	D	$ 0.5494	993,370	D
Common Stock	07/01/2010		S		1,600	D	$ 0.5498	991,770	D
Common Stock	07/01/2010		S		400	D	$ 0.5499	991,370	D
Common Stock	07/01/2010		S		1,500	D	$ 0.55	989,870	D
Common Stock	07/01/2010		S		200	D	$ 0.5506	989,670	D
Common Stock	07/01/2010		S		200	D	$ 0.5512	989,470	D
Common Stock	07/01/2010		S		1,000	D	$ 0.5513	988,470	D
Common Stock	07/01/2010		S		200	D	$ 0.5514	988,270	D
Common Stock	07/01/2010		S		100	D	$ 0.5515	988,170	D
Common Stock	07/01/2010		S		100	D	$ 0.5522	988,070	D
Common Stock	07/01/2010		S		700	D	$ 0.5524	987,370	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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 control number.		SEC 1474 (9-02)

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Jones William L 400 CAPITOL MALL, #2060 SACRAMENTO, CA 95814	X

Signatures

/s/ William L. Jones		07/02/2010
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
Remarks: This is Part 2 of 5. There are more than 30 transactions to report.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.