RAYONIER INC — Director's Dealing 2013

Jan 4, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2013-01-02

Reporting Person: Kriesel Jack M. (SVP, Performance Fibers)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-01-02	Employee Stock Option	$52.6300	A	11430.0000	Acquired	2023-01-02	Common Shares (11430.0000)	Direct

Footnotes

F1: Vests in one-third installments annually commencing 1/2/2014.