RAYONIER INC — Director's Dealing 2015

Jan 21, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2014-12-31

Reporting Person: CORR CHRISTOPHER T (SVP, Real Estate)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-31	Common Shares	F	684.0000	$27.9400	Disposed	9306.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	291.3287	Indirect

Footnotes

F1: Upon vesting of 2,500 shares on December 31, 2014 under a restricted stock grant dated July 19, 2013, the reporting person had 684 shares withheld by the Company for personal tax liability withholding.

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