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 *
Belt Dale
   2. Issuer Name and Ticker or Trading Symbol
RiceBran Technologies [RIBT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CFO & Secretary
(Last)
(First)
(Middle)
6720 N SCOTTSDALE RD, SUITE 390		 3. Date of Earliest Transaction (Month/Day/Year)
10/22/2012
(Street)

SCOTTSDALE, AZ 85253		 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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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
Common Stock Option, right to buy $ 0.12 (1) 10/22/2012   D     233,775 12/31/2012 04/25/2022 Common Stock 233,775 $ 0 0 D  
Common Stock option, right to buy $ 0.08 (1) 10/22/2012   A   233,775   12/31/2012(3) 04/25/2022 Common Stock 233,775 $ 0 233,775 D  
Common Stock Option, right to buy $ 0.2 (1) 10/22/2012   D     139,124 12/31/2011 07/15/2013 Common Stock 139,124 $ 0.2 0 D  
Common Stock Option, right to buy $ 0.08 (1) 10/22/2012   A   139,124   12/31/2011 07/15/2013 Common Stock 139,124 $ 0 139,124 D  
Common Stock Option, right to buy $ 0.2 (1) 10/22/2012   D     80,254 12/31/2011 07/15/2014 Common Stock 80,254 $ 0 0 D  
Common Stock Option, right to buy $ 0.08 (1) 10/22/2012   A   80,254   12/31/2011 07/15/2014 Common Stock 80,254 $ 0 80,254 D  
Common Stock Option, right to buy $ 0.2 (1) 10/22/2012   D     2,500,000 06/15/2010 06/15/2020 Common Stock 2,500,000 $ 0 0 D  
Common Stock Option, right to buy $ 0.08 (1) 10/22/2012   A   2,500,000   06/15/2010(2) 06/15/2020 Common Stock 2,500,000 $ 0 2,500,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Belt Dale
6720 N SCOTTSDALE RD
SUITE 390
SCOTTSDALE, AZ 85253		       CFO & Secretary  

Signatures

 J. Dale Belt   10/30/2012
**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) Effective 10/22/12, the board of directors lowered the exercise price of all options held by Mr. Belt to $0.08 per share. No other terms of the options changed.
(2) 500,000 vested 6/15/12 and 31,250 vest monthly 11/27/10 through 10/27/14.
(3) 58,444 vested 4/25/12 and the remainder vest in seventeen equal installments beginning 4/30/12 and ending 12/31/12.

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