<PAGE> 1
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FORM 3
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF 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(f)
of the Investment Company Act of 1940
<TABLE>
<S> <C> <C> <C>
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|1. Name and Address of Reporting Person(1)|2. Date of Event Requiring |4. Issuer Name and Ticker or Trading Symbol |
| | Statement | |
| OLESIK MICHAEL | (Month/Day/Year) | KELLSTROM INDUSTRIES, INC. (KELL) |
|------------------------------------------| | |
| (Last) (First) (Middle) | DECEMBER 1, 2000 |-----------------------------------------------------------|
| C/O KELLSTROM INDUSTRIES, INC. | |5. Relationship of Reporting | 6. If Amendment, Date |
| 1100 INTERNATIONAL PARKWAY |---------------------------| Person to Issuer | of Original |
|------------------------------------------|3. IRS Identification | (Check all applicable) | (Month/Day/Year) |
| (Street) | Number of Reporting | | |
| | Person, if an Entity |[ ] Director [ ] 10% Owner | |
| | (Voluntary) | | |
| | |[X] Officer [ ] Other (specify| |
| | | (give below) |-------------------------|
| SUNRISE FL 33323 | | title below) | 7. Individual or Joint/ |
| | | SENIOR VICE PRESIDENT | Group Filing (Check |
|--------------------------------------------------------------------------------------------------------| applicable line) |
| (City) (State) (Zip) | |
| | [X] Form filed by |
| | One Reporting |
| | Person |
| | [ ] Form filed by |
| | More than One |
| | Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect |
| (Instr. 4) | Beneficially Owned | Direct (D) or | Beneficial |
| | (Instr. 4) | Indirect (I) | Ownership (Instr. 5) |
| | | (Instr. 5) | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| NO SECURITIES OWNED | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
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</TABLE>
(Over)
(1) If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
(Print or Type Responses)
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<TABLE>
<CAPTION>
FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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| 1. Title of Derivative Security |2. Date |3. Title and Amount of |4. Conver- | 5. Owner- |6. Nature of Indirect|
| (Instr. 4) | Exercisable and | Securities Underlying | sion or | ship | Beneficial Owner- |
| | Expiration Date | Derivative Security | Exercise | Form/ | ship (Instr. 5) |
| | (Month/Day/Year) | (Instr. 4) | Price of | Deriva- | |
| | | | Deriva- | tive | |
| | | | tive | Security:| |
| | | | Security | Direct | |
| |--------------------|--------------------------| | (D) or | |
| | Date | Expira- | | Amount or | | Indirect | |
| | Exercis-| tion | Title | Number of | | (I) | |
| | able | Date | | Shares | | (Instr. | |
| | | | | | | 5) | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| EMPLOYEE STOCK OPTION | | | | | | | |
| (RIGHT TO BUY) | (1) |12/1/10 | COMMON STOCK | 30,000 | $3.589 | D | N/A |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
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Explanation of Response:
(1) These Employee Stock Options vest in three equal installments on 12/1/01, 12/1/02 and 12/1/03.
------------------------- By: /s/ Michael Olesik 1/11/01
(1) Intentional misstatements or omissions of facts constitute Federal Criminal --------------------------------- ----------
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Signature of Reporting Person(1) Date
MICHAEL OLESIK
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedures.
(Print or Type Response) Page 2
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