RAYONIER INC — Director's Dealing 2015

Sep 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2015-09-10

Reporting Person: Long Douglas M (VP, US Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-09-10	Common Shares	M	881.0000	$20.2580	Acquired	4437.0000	Direct
2015-09-10	Common Shares	S	881.0000	$22.8027	Disposed	3556.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-09-10	Employee Stock Option	$20.2600	M	881.0000	Disposed	2016-01-03	Common Shares (881.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	9675.2364	Indirect

Footnotes

F1: Shares are held in the Rayonier Investment and Savings Plan, a 401(k) plan, for this person's account.

F2: Shares exercised are from Mr. Long's 2006 Employee Stock Option granted on January 3, 2006 which expires on January 3, 2016. The award was previously reported on Form 3 filed November 17, 2014.