RAYONIER INC — Director's Dealing 2015

Apr 2, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2015-04-01

Reporting Person: Pyatt Shelby L (VP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-01	Common Shares	A	2556.0000	$0.0000	Acquired	5181.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	2249.4741	Indirect

Footnotes

F1: Grant of restricted stock to vest in one-third installments on the third, fourth and fifth anniversary of grant date, in each case assuming continued employment with Rayonier.

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