------------------------------
OMB APPROVAL
------------------------------
OMB Number 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response ....... 0.5
------------------------------
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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(f) of the Investment Company Act of 1940
[X] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b*).
________________________________________________________________________________
1. Name and Address of Reporting Person*
John Hancock Life Insurance Company
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
P.O. Box 111
- --------------------------------------------------------------------------------
(Street)
Boston MA 02117
- --------------------------------------------------------------------------------
(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Delta and Pine Land Company (NYSE "DLP")
________________________________________________________________________________
3. IRS or Social Security Number of Reporting Person (Voluntary)
04-1414660
________________________________________________________________________________
4. Statement for Month/Year
3/00
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
7. Individual or Joint/Group Filing
(Check applicable line)
[X] Form filed by One Reporting Person
[_] Form filed by More than one Reporting Person
________________________________________________________________________________
================================================================================
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
Disposed of (D) Beneficially Form: 7.
(Instr. 3, 4 and 5) Owned at End Direct Nature of
2. 3. ----------------------------- of Issuer's (D) or Indirect
1. Transaction Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Date Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (Month/Day/Year) (Instr. 8) (D) and 4) (Instr.4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 3/6/00 S 43,000 D $20.375 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/9/00 S 43,000 D $19.1051 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/16/00 S 43,000 D $20.1086 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/22/00 S 43,000 D $19.6565 3,720,264 D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1474 (4/97)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Collar arrangement
(right/obligation Common
to sell) (1) 3/6/00 J 1 3/7/05 3/7/05 Stock 100,000 (1) 1 D
- ------------------------------------------------------------------------------------------------------------------------------------
Collar arrangement
(right/obligation Common
to sell) (2) 3/8/00 J 1 3/8/05 3/8/05 Stock 100,000 (2) 1 D
- ------------------------------------------------------------------------------------------------------------------------------------
Collar arrangement
(right/obligation Common
to sell) (3) 3/16/00 J 1 3/16/05 3/16/05 Stock 100,000 (3) 1 D
- ------------------------------------------------------------------------------------------------------------------------------------
Collar arrangement
(right/obligation Common
to sell) (4) 3/22/00 J 1 3/22/05 3/22/05 Stock 100,000 (4) 1 D
- ------------------------------------------------------------------------------------------------------------------------------------
Collar arrangement
(right/obligation Common
to sell) (5) 3/27/00 J 1 3/28/05 3/28/05 Stock 100,000 (5) 1 D
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(1) On March 6, 2000, the Reporting Person entered into a collar arrangement
with a financial institution. Under the terms of the collar arrangement,
on its expiration date, 3/7/05, the Reporting Person has the right to
require the financial institution to purchase 100,000 shares of Delta and
Pine Land Company common stock from the Reporting Person at a price of
$16.344 per share or, alternatively, the financial institution has the
right to require the Reporting Person to sell to it 100,000 shares of
Delta and Pine Land Company common stock at a price of $19.976 per share.
In connection with the execution of the collar arrangement, the financial
institution paid a net fee of $475,792 to the Reporting Person.
(2) On March 8, 2000, the Reporting person entered into a collar arrangement
with a financial institution. Under the terms of the collar arrangement,
on its expiration date, 3/8/05, the Reporting person has the right to
require the financial institution to purchase 100,000 shares of Delta and
Pine Land Company common stock from the Reporting Person at a price of
$17.721 per share or, alternatively, the financial institution has the
right to require the Reporting Person to sell to it 100,000 shares of
Delta and Pine Land Company common stock at a price of $21.659 per share.
In connection with the execution of the collar arrangement, the financial
institution paid a net fee of $512,924.50 to the Reporting Person.
(3) On March 16, 2000, the Reporting Person entered into a collar arrangement
with a financial institution. Under the terms of the collar arrangement,
on its expiration date, 3/16/00, the Reporting Person has the right to
require the financial institution to purchase 100,000 shares of Delta and
Pine Land Company common stock from the Reporting Person at a price of
$17.568 per share or, alternatively, the financial institution has the
right to require the Reporting Person to sell to it 100,000 shares of
Delta and Pine Land Company common stock at a price of $21.472 per share.
In connection with the execution of the collar arrangement, the financial
institution paid a net fee of $508,496 to the Reporting Person.
(4) On March 22, 2000, the Reporting person entered into a collar arrangement
with a financial institution. Under the terms of the collar arrangement,
on its expiration date, 3/22/05, the Reporting person has the right to
require the financial institution to purchase 100,000 shares of Delta and
Pine Land Company common stock from the Reporting Person at a price of
$18.036 per share or, alternatively, the financial institution has the
right to require the Reporting Person to sell to it 100,000 shares of
Delta and Pine Land Company common stock at a price of $22.044 per share.
In connection with the execution of the collar arrangement, the financial
institution paid a net fee of $520,038 to the Reporting Person.
(5) On March 27, 2000, the Reporting person entered into a collar arrangement
with a financial institution. Under the terms of the collar arrangement,
on its expiration date, 3/28/05, the Reporting person has the right to
require the financial institution to purchase 100,000 shares of Delta and
Pine Land Company common stock from the Reporting Person at a price of
$17.019 per share or, alternatively, the financial institution has the
right to require the Reporting Person to sell to it 100,000 shares of
Delta and Pine Land Company common stock at a price of $20.801 per share.
In connection with the execution of the collar arrangement, the financial
institution paid a net fee of $478,423 to the Reporting Person.
John Hancock Life Insurance Company
By:/s/Francis X. Felcon April 10, 2000
- --------------------------------------------- -----------------------
Francis X. Felcon Date
Second Vice President
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
SEC 1474 (4/97)
