Rayonier (RYN) director takes 1,017 shares as quarterly retainer

Rhea-AI Filing Summary

Rayonier Inc. director Keith E. Bass acquired 1,017 common shares on February 27, 2026 as a grant in payment of his quarterly retainer for Q4 2025, taken in shares instead of cash at $21.49 per share.

After this award, he directly owns 37,320 common shares, which includes 1,684 shares that were previously acquired through a special dividend received on December 12, 2025.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BASS KEITH E

(Last) (First) (Middle)

1 RAYONIER WAY

(Street)

WILDLIGHT FL 32097

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RAYONIER INC [ RYN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	02/27/2026		A		1,017(1)	A	$21.49	37,320(2)	D

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. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects the number of common shares issued to the Reporting Person in payment of the Reporting Person's quarterly retainer in lieu of cash for Q4 2025 pursuant to the Reporting Person's election to participate in the Non-Employee Director Compensation Election to Receive Shares in Lieu of Cash.

2. This amount includes 1,684 common shares acquired pursuant to a special dividend received on December 12, 2025.

Remarks:

	/s/ Sarah E. Miles / Attorney-In-Fact	03/02/2026
	** Signature of Reporting Person	Date
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).
** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Rayonier (RYN) director Keith E. Bass report?

Keith E. Bass reported acquiring 1,017 Rayonier common shares. These shares were issued as payment of his quarterly director retainer for Q4 2025, which he elected to receive in stock instead of cash under the Non-Employee Director Compensation Election program.

At what price were the Rayonier shares granted to Keith E. Bass?

The 1,017 common shares were valued at $21.49 per share. This price reflects the share value used when issuing stock in lieu of cash for Bass’s Q4 2025 non-employee director retainer compensation election.

How many Rayonier shares does Keith E. Bass own after this Form 4 transaction?

After the reported grant, Keith E. Bass directly owns 37,320 Rayonier common shares. This total includes 1,684 shares that were previously acquired through a special dividend paid on December 12, 2025, in addition to other director-related share awards.

Why did Keith E. Bass receive Rayonier shares instead of cash?

Bass chose to receive his Q4 2025 non-employee director quarterly retainer in common shares instead of cash. The company’s Non-Employee Director Compensation Election to Receive Shares in Lieu of Cash program allows directors to elect stock compensation for their retainers.

What is the significance of the 1,684 Rayonier shares noted in the footnote?

The 1,684 Rayonier common shares noted in the footnote were acquired through a special dividend on December 12, 2025. These dividend shares are included in Bass’s total direct ownership of 37,320 common shares reported after the most recent stock retainer grant.