Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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 *
GREENBERG MARTHA R
 2. Issuer Name and Ticker or Trading Symbol
PMC COMMERCIAL TRUST /TX [PCC] 		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)

17950 PRESTON ROAD SUITE 600		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2005
(Street)


DALLAS, TX 75252		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Shares of Beneficial Interest 06/25/2002   M4 1,000 A $ 10.75 217,488.61 D  
Common Shares of Beneficial Interest 06/25/2002   M4 1,000 A $ 13.5 217,488.61 D  
Common Shares of Beneficial Interest 01/01/2002(1)   P4(4) 19,466 A $ (2) 0 I Shares held by spouse
Common Shares of Beneficial Interest 01/01/2002(1)   G(3) 19,466 D $ (2) 0 I Shares held by Spouse
Common Shares of Beneficial Interest 01/01/2002(1)   G(3) 19,466 A $ (2) 75,911.04 I Shares held by spouse's IRA
Common Shares of Beneficial Interest 03/24/2005   G(5) 50,154 D $ (2) 0 I Shares held by pension trust
Common Shares of Beneficial Interest 03/24/2005   G(5) 50,154 A $ (2) 75,911.04 I Shares held by spouse's IRA (2) (2)
Common Shares of Beneficial Interest 08/19/2005(1)   P 0 (1) (2) A $ (2) 71,064 I Shares held by IRA
Common Shares of Beneficial Interest 08/19/2005(1)   P 0 (1) (2) A $ (2) 14,171 I Shares held by family trust

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 2270 (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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 10.75 06/25/2002   M4   1,000 06/01/2000 06/01/2005 Common Shares of Beneficial Interest
1,000
$ 10.75 0
D
 
Stock Option (right to buy) $ 13.5 06/25/2002   M4   1,000 06/01/2001 06/01/2006 Common Shares of Beneficial Interest
1,000
$ 13.5 0
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
GREENBERG MARTHA R
17950 PRESTON ROAD SUITE 600
DALLAS, TX 75252		   X      

Signatures

Martha Greenberg, under POA 06/13/2006
**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) The reporting person is unable to determine the exact date of the transaction based on a review of the reporting person's records
(2) The reporting person is unable to determne the price paid for the securities based on a review of the reporting person's records
(3) The Shares were transferred from the reporting person's spouse to an IRA owned by the reporting person's spouse. The reporting person has discretionary control over the shares held by the reporting person's spouses's IRA.
(4) The reporting person has discretionary control over the shares.
(5) The shares were transferred from the reporting person's pension trust to an IRA owned by the reporting person's spouse. The reporting person has discretionary control over the shares held by the reporting person's spouses's IRA.

Note: File three copies of this Form, one of which must be manually signed. If space provided 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.