RAYONIER INC — Director's Dealing 2014

Jan 16, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2014-01-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-14	Common Shares	A	14904.0000	$0.0000	Acquired	19808.5000	Direct
2014-01-14	Common Shares	F	4165.0000	$41.5500	Disposed	15643.5000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	90800.0000	Indirect
Common Shares	101104.0000	Indirect
Common Shares	96989.0000	Indirect
Common Shares	2390.0000	Indirect
Common Shares	10919.0051	Indirect

Footnotes

F1: Paid pursuant to 2011 Contingent Performance Share award.

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