RAYONIER INC — Director's Dealing 2017

Mar 2, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2017-03-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-02	Common Shares	M	1380.0000	$14.8300	Acquired	8556.0000	Direct
2017-03-02	Common Shares	M	925.0000	$22.8300	Acquired	9481.0000	Direct
2017-03-02	Common Shares	S	2305.0000	$29.5100	Disposed	7176.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-02	Employee Stock Option	$22.8300	M	925.0000	Disposed	2018-01-02	Common Shares (925.0000)	Direct
2017-03-02	Employee Stock Option	$14.8300	M	1380.0000	Disposed	2019-01-01	Common Shares (1380.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	10795.0063	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $29.51 to $29.53. The price reported above reflects the weighted average sale price. Upon written request by the Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price is available.