UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Muleta, John
c/o PSINet Inc.
510 Huntmar Park Drive
Herndon, VA 20170
USA
2. Issuer Name and Ticker or Trading Symbol
PSINet Inc.
PSIX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
3/1/00
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President: President Global Facilities Development and India,
Middle East and Asia
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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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, $.01 par valu|3/1/00|M | |4,428 |A |* |49,286 |D | |
e | | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Options to purchase Co|$4.25 |3/1/0|M | |511 |D |**1 |2/17/|Common Stock|511 | |48,000 | | |
mmon Stock, $.01 par v| |0 | | | | | |08 |, $.01 par v| | | | | |
alue | | | | | | | | |alue | | | | | |
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Options to purchase Co|$6.718 |3/1/0|M | |2,167 |D |**2 |7/17/|Common Stock|2,167 | |4,833 | | |
mmon Stock, $.01 par v| |0 | | | | | |08 |, $.01 par v| | | | | |
alue | | | | | | | | |alue | | | | | |
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Options to purchase Co|$5.25 |3/1/0|M | |1,750 |D |**3 |8/31/|Common Stock|1,750 | |4,520 | | |
mmon Stock, $.01 par v| |0 | | | | | |08 |, $.01 par v| | | | | |
alue | | | | | | | | |alue | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
All amounts reflect 2-for-1 stock split approved for holders of record as of
January 28, 2000, and which was effective February 11, 2000.
* Reflects exercise of in-the-money stock options with strike prices between
$4.25 and $6.718.
**1 Options become exercisable in 48 equal monthly increments beginning one
month after the grant, February 17, 1998, subject to continued employment on
each of such vesting dates.
**2 Options become exercisable in 48 equal monthly increments beginning one
month after the grant, July 17, 1998, subject to continued employment on each
of such vesting dates.
**3 Options become exercisable in 48 equal monthly increments beginning one
month after the grant, August 31, 1998, subject to continued employment on each
of such vesting dates.
SIGNATURE OF REPORTING PERSON
John B. Muleta
DATE
April 10, 2000
