RAYONIER INC — Director's Dealing 2013

Mar 5, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2013-03-01

Reporting Person: MARGIOTTA CHARLES (SR VP, REAL ESTATE)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-14	Common Shares	G	1200.0000	$0.0000	Disposed	219536.3531	Direct
2013-03-01	Common Shares	S	6000.0000	$55.3700	Disposed	213536.3531	Direct
2013-02-14	Common Shares	G	600.0000	$0.0000	Acquired	1800.0000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	10028.1294	Indirect

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 8, 2012, covering the sale of 42,000 shares.

F2: Shares are held in the Rayonier Investment and Savings Plan, a 401(k) plan, for this person's account.