RAYONIER INC — Director's Dealing 2019

May 8, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2019-05-06

Reporting Person: McHugh Mark (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-06	Common Shares	S	10000	$32.6213	Disposed	61613	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	28.4784	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $32.4075 to $32.7800. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide Rayonier Inc., any security holder of Rayonier Inc., or to the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which each trade was effected.