Edgar Filing: PAYNE DAVID 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 ^*

PAYNE DAVID L

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

(Last)

(First)

(Middle)

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

(Street)

4. If Amendment, Date Original Filed(Month/Day/Year)
10/29/2007

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	10/25/2007		M		402	A	$ 32.7917	402	D
Common Stock	10/25/2007		S		402	D	$ 46.95	0	D
Common Stock	10/25/2007		M		100	A	$ 32.7917	100	D
Common Stock	10/25/2007		S		100	D	$ 46.94	0	D
Common Stock	10/25/2007		M		100	A	$ 32.7917	100	D
Common Stock	10/25/2007		S		100	D	$ 46.9	0	D
Common Stock	10/25/2007		M		100	A	$ 32.7917	100	D
Common Stock	10/25/2007		S		100	D	$ 46.88	0	D
Common Stock	10/25/2007		M		100	A	$ 32.7917	100	D
Common Stock	10/25/2007		S		100	D	$ 46.86	0	D
Common Stock	10/25/2007		M		200	A	$ 32.7917	200	D
Common Stock	10/25/2007		S		200	D	$ 46.78	0	D
Common Stock	10/25/2007		M		100	A	$ 32.7917	100	D
Common Stock	10/25/2007		S		100	D	$ 46.77	0	D
Common Stock	10/25/2007		M		100	A	$ 32.7917	100	D
Common Stock	10/25/2007		S		100	D	$ 46.75	0	D
Common Stock	10/25/2007		M		1,500	A	$ 32.7917	1,500	D
Common Stock	10/25/2007		S		1,500	D	$ 46.74	0	D
Common Stock	10/25/2007		M		300	A	$ 32.7917	300	D
Common Stock	10/25/2007		S		300	D	$ 46.7	0	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

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

189

01/21/1999⁽¹⁾

01/21/2008

Common Stock

189

$ 0

80,593

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

100

01/21/1999⁽¹⁾

01/21/2008

Common Stock

100

$ 0

80,493

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

100

01/21/1999⁽¹⁾

01/21/2008

Common Stock

100

$ 0

80,393

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

100

01/21/1999⁽¹⁾

01/21/2008

Common Stock

100

$ 0

80,293

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

382

01/21/1999⁽¹⁾

01/21/2008

Commom Stock

382

$ 0

79,911

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

500

01/21/1999⁽¹⁾

01/21/2008

Common Stock

500

$ 0

79,411

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

200

01/21/1999⁽¹⁾

01/21/2008

Common Stock

200

$ 0

79,211

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

100

01/21/1999⁽¹⁾

01/21/2008

Common Stock

100

$ 0

79,111

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

200

01/21/1999⁽¹⁾

01/21/2008

Common Stock

200

$ 0

78,911

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

300

01/21/1999⁽¹⁾

01/21/2008

Common Stock

300

$ 0

78,611

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

500

01/21/1999⁽¹⁾

01/21/2008

Common Stock

500

$ 0

78,111

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

1,218

01/21/1999⁽¹⁾

01/21/2008

Common Stock

1,218

$ 0

76,893

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

1,800

01/21/1999⁽¹⁾

01/21/2008

Common Stock

1,800

$ 0

75,093

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

600

01/21/1999⁽¹⁾

01/21/2008

Common Stock

600

$ 0

74,493

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

1,200

01/21/1999⁽¹⁾

01/21/2008

Common Stock

1,200

$ 0

73,293

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

909

01/21/1999⁽¹⁾

01/21/2008

Common Stock

909

$ 0

72,384

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

600

01/21/1999⁽¹⁾

01/21/2008

Common Stock

600

$ 0

71,784

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

1,700

01/21/1999⁽¹⁾

01/21/2008

Common Stock

1,700

$ 0

70,084

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

4,500

01/21/1999⁽¹⁾

01/21/2008

Common Stock

4,500

$ 0

65,584

Non-Qualified Stock Option (right to buy)

$ 32.7917

10/25/2007

300

01/21/1999⁽¹⁾

01/21/2008

Common Stock

300

$ 0

65,284

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
PAYNE DAVID L	X		Chairman, President & CEO

Signatures

/s/David L. Payne		10/30/2007
^**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)	Options vest ratably over three years beginning one year from date of grant.
Remarks: This is filing #3 of 3 amended filings. It amends filing #3 of 9 filings to correct all totals in Column 9 of Table II.

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.