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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1. Name and Address of Reporting Person * ELLIOTT WILLIAM E   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) (Last) (First) (Middle) P.O. BOX 1971 3. Date of Earliest Transaction (Month/Day/Year) 02/01/2006 (Street) QUINCY, CA 95971 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) Code V Amount (A) or (D) Price 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)

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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

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ELLIOTT WILLIAM E P.O. BOX 1971 QUINCY, CA 95971	X

Signatures

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

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