SEC Form 4
FORM 4

[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 oblibations may continue.
See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

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
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OMB Number: 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response. . . . . 0.5
1. Name and Address of Reporting Person*
Barnes, Judith     A.
(Last)                       (First)                      (Middle)
30 South Pearl Street

(Street)
Albany, NY     12207
(City)                       (State)                      (Zip)

 2. Issuer Name and Ticker
    or Trading Symbol

Mechanical Technology Incorporated   MKTY
3. I.R.S. Identification
     Number of Reporting
    Person, if an entity
    (voluntary)
 4. Statement for
    (Month/Year)

    February 2001

5. If Amendment,
    Date of Original
     (Month/Year)
 6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

                        Director                           10% Owner
           X          Officer                             Other

Officer/Other
Description           Vice President
7. Individual or Joint/Group
    Filing (Check Applicable Line)

X   Individual Filing
      Joint/Group Filing
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
    (Instr. 3)

 2. Transaction Date
    (Month/Day/Year) 		3. Transaction
    Code
    and
    Voluntary
    Code
    (Instr. 8)

Code  |  V    
4. Securities Acquired (A) or Disposed (D) Of
    (Instr. 3, 4, and 5)





        Amount      |         A/D         |         Price          
5. Amount of
    Securities
    Beneficially
    Owned at
    End of Month

     (Instr. 3 and 4) 		6. Owner-
    ship
    Form:
    Direct(D)
    or
    Indirect (I)

     (Instr. 4) 		7. Nature of
     Indirect
     Beneficial
     Ownership

    (Instr. 4)







Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

(over)
SEC 1474 (3-99)

Barnes, Judith A. - February 2001
Form 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
    (Instr. 3) 		2. Conver-
    sion or
    Exercise
    Price of
    Deri-
    vative
     Security 		3. Transaction
    Date

    (Month/
    Day/
    Year) 		4. Transaction
    Code
    and
    Voluntary (V)
    Code
    (Instr.8)





Code | V    
5. Number of Derivative
    Securities Acquired (A)
    or Disposed (D) Of

    (Instr. 3,4 and 5) 		6. Date Exercisable(DE) and
    Expiration Date(ED)
    (Month/Day/Year)








  (DE)     |     (ED)  
 7. Title and Amount of
    Underlying Securities
    (Instr. 3 and 4) 		8. Price
    of
    Derivative
    Security
    (Instr.5) 		9. Number of
    Derivative
    Securities
    Beneficially
    Owned
    at End of
    Month
    (Instr.4) 		10.
Owner-
ship
Form of
Deriv-
ative
Security:
Direct
(D)
or
Indirect
(I) 		11. Nature of
      Indirect
      Beneficial
      Ownership
       (Instr.4)
Employee Stock Options (Rights o Buy)
 $2.88 12/15/2000
   J |     
    (A) 40,000.00
12/15/2001 (1) | 12/14/2010
 Common Stock - 40,000.00 $2.88 40,000.00
D
Employee Stock Options (Rights to Buy)
 $21.9166667 (2) 03/07/2000
   J |     
    (A) 70,000.00 (2)
03/07/2000 | 03/06/2010
 Common Stock - 70,000.00 $21.92 105,000.00
D











Explanation of Responses :


** 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 is insufficient,
            See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number. 		________________________________            02-16-2001    
** Signature of Reporting Person                         Date


Judith A. Barnes


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SEC 1474 (3-99)
Barnes, Judith A. - February 2001
Form 4 (continued)
FOOTNOTE Descriptions for Mechanical Technology Incorporated MKTY

Form 4 - February 2001

Judith A. Barnes
30 South Pearl Street

Albany, NY 12207
Explanation of responses:

 (1)   Options vest annually at a rate of 25% per year beginning 12/15/01.
(2)   This option was previously reported as 35,000 shares at a purchase price of $65.75 per share. This report reflects the 3 for 1 stock split declared on March 8, 2000 payable to all holders of record of common stock on April 3, 2000 and paid on April 12, 2000.
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