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OMB APPROVAL
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OMB Number 3235-0287
Expires: December 31, 2001
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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
[ ] 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
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(Last) (First) (Middle)
P.O. Box 111
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(Street)
Boston MA 02117
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Delta and Pine Land Company (NYSE "DLP")
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3. IRS or Social Security Number of Reporting Person (Voluntary)
04-1414660
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4. Statement for Month/Year
February 2000
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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
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<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 Fiscal Year Indirect Beneficial
Title of Security Date Code (Instr. 3 (I) Ownership
(Instr. 3) (Month/Day/ (Instr. 8) (A) or and 4) (Instr.4) (Instr. 4)
Year) Code V Amount (D) Price
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 2/15/00 S 43,000 D $16.9418 D
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Common Stock 2/17/00 S 16,900 D $18.25 D
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Common Stock 2/18/00 S 47,600 D $17.7462 D
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Common Stock 2/22/00 S 30,000 D $18.4167 D
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Common Stock 2/23/00 S 13,000 D $18.5625 D
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Common Stock 2/24/00 S 43,000 D $18.50 D
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Common Stock 2/29/00 S 43,000 D $18.00 3,892,264 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
(Print or Type Responses)
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)
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<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- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ ----------- Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Collar arrangement
(right/obligation Common
to sell) (1) 2/17/00 J 1 2/17/05 2/17/05 Stock 100,000 (1) 1 D
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Collar arrangement
(right/obligation Common
to sell) (2) 2/22/00 J 1 2/22/05 2/22/05 Stock 150,000 (2) 1 D
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Collar arrangement
(right/obligation Common
to sell) (3) 2/23/00 J 1 2/23/05 2/23/05 Stock 100,000 (3) 1 D
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Collar arrangement
(right/obligation Common
to sell) (4) 2/28/00 J 1 2/28/05 2/28/05 Stock 100,000 (4) 1 D
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</TABLE>
Explanation of Responses:
(1) On February 17, 2000, the Reporting Person entered into a collar
arrangement with a financial institution. Under the terms of the collar
arrangement, on its expiration date, 2/17/05, 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 $15.723 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 $19.217 per
share. In connection with the execution of the collar arrangement, the
financial institution paid a net fee of $462,955 to the Reporting Person.
(2) On February 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, 2/22/05, the Reporting person has the
right to require the financial institution to purchase 150,000 shares of
Delta and Pine Land Company common stock from the Reporting Person at a
price of $15.867 per share or, alternatively, the financial institution
has the right to require the Reporting Person to sell to it 150,000 shares
of Delta and Pine Land Company common stock at a price of $19.393 per
share. In connection with the execution of the collar arrangement, the
financial institution paid a net fee of $700,792.50 to the Reporting
Person.
(3) On February 23, 2000, the Reporting Person entered into a collar
arrangement with a financial institution. Under the terms of the collar
arrangement, on its expiration date, 2/23/05, 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 $16.875 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 $20.625 per
share. In connection with the execution of the collar arrangement, the
financial institution paid a net fee of $493,125 to the Reporting Person.
(4) On February 28, 2000, the Reporting person entered into a collar
arrangement with a financial institution. Under the terms of the collar
arrangement, on its expiration date, 2/28/05, 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 $16.236 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 $19.844 per
share. In connection with the execution of the collar arrangement, the
financial institution paid a net fee of $470,844 to the Reporting Person.
John Hancock Life Insurance Company
By: /s/Francis X. Felcon March 10, 2000
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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.
Page 2
SEC 1474(4/97)
