RAYONIER INC — Director's Dealing 2013

Jan 16, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2013-01-14

Reporting Person: BOYNTON PAUL G (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-14	Common Shares	A	53015.0000	$0.0000	Acquired	221873.5000	Direct
2013-01-14	Common Shares	F	20505.0000	$53.5900	Disposed	201368.5000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	97429.0000	Indirect
Common Shares	2390.0000	Indirect
Common Shares	10283.8937	Indirect

Footnotes

F1: Paid pursuant to 2010 Contingent Performance Share award.

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