UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Winkler, Lawrence S.
c/o PSINet Inc.
510 Huntmar Park Drive
Herndon, VA 20170
2. Date of Event Requiring Statement (Month/Day/Year)
2/21/00
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
PSINet Inc.
PSIX
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President and Treasurer
6. If Amendment, Date of Original (Month/Day/Year)
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>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
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<CAPTION>
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Option to purchase Commo|*1* |12/1/07 |Common Stock, $.01 par |12,500 |$3.4375 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*2* |1/16/08 |Common Stock, $.01 par |10,834 |$3.0938 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*3* |5/19/08 |Common Stock, $.01 par |25,000 |$5.5938 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*4* |7/17/08 |Common Stock, $.01 par |2,666 |$6.7188 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*5* |8/31/08 |Common Stock, $.01 par |27,544 |$5.25 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*6* |10/8/08 |Common Stock, $.01 par |102,082 |$4.5625 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*7* |5/19/09 |Common Stock, $.01 par |70,000 |$24.3125 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*8* |10/1/09 |Common Stock, $.01 par |40,000 |$17.375 |D | |
n Stock, $.01 par value | | |value | | | | |
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Option to purchase Commo|*9* |1/26/10 |Common Stock, $.01 par |80,000 |$43.5 |D | |
n Stock, $.01 par value | | |value | | | | |
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</TABLE>
Explanation of Responses:
Amounts reflect 2-for1 stock split approved for holders of record as of January
28, 2000, which was effective as of February 11, 2000.
*1*Options become exercisable in equal monthly increments of approximately 520
shares beginning on January 1, 1998, subject to continued employment on each of
such vesting dates.
*2*Options become exercisable in equal monthly increments of approximately 416
shares beginning on February 16, 1998, subject to continued employment on each
of such vesting dates.
*3*Options become exercisable in equal monthly increments of approximately 833
shares beginning on June 19, 1998, subject to continued employment on each of
such vesting dates.
*4*Options become exercisable in equal monthly increments of approximately 83
shares beginning on August 17, 1998, subject to continued employment on each of
such vesting dates.
*5*Options become exercisable in equal monthly increments of approximately 833
shares beginning on September30, 1998, subject to continued employment on each
of such vesting dates.
*6*Options become exercisable in equal monthly increments of approximately 291
shares beginning on November 8, 1998, subject to continued employment on each
of such vesting dates.
*7*Options become exercisable in equal monthly increments of approximately
1,666 shares beginning on June 19, 1999, subject to continued employment on
each of such vesting dates.
*8*Options become exercisable in equal monthly increments of approximately 833
shares beginning on November 1, 1999, subject to continued employment on each
of such vesting dates.
*9*Options become exercisable in equal monthly increments of approximately
1,666 shares beginning on February 26, 2000, subject to continued employment on
each of such vesting dates.
SIGNATURE OF REPORTING PERSON
Lawrence S. Winkler
DATE
March 1, 2000
