Smith Glen F 4

What Happened

• Glen F. Smith, Chief Accounting Officer of PotlatchDeltic Corp (PCH), had equity converted and settled in connection with the company’s merger into Rayonier. Per the Form 4, Smith was granted 9,633.227 derivative shares (Rayonier RSU-equivalents) on 2026-01-29 (price reported $0.00) and had two dispositions to the issuer: 9,846.411 PCH shares on 2026-01-30 and 9,633.227 derivative shares on 2026-01-30. The disposals are reported as “to the issuer” and no dollar proceeds are listed (N/A), consistent with merger conversion/settlement mechanics rather than an open-market sale.

Key Details

• Transaction dates: 2026-01-29 (award/acquisition of 9,633.227 derivative shares at $0.00) and 2026-01-30 (dispositions of 9,846.411 and 9,633.227 shares to the issuer).
• Transaction types/codes: A = Award/Grant (derivative RSU conversion); D = Disposition to issuer (merger settlement).
• Reported prices/values: Award shown at $0.00; disposals list price/proceeds as N/A (merger consideration/cash conversion applied).
• Shares involved: Total disposed ≈ 19,479.638 shares (9,846.411 + 9,633.227).
• Shares owned after transaction: Not disclosed in the provided data.
• Filing timeliness: Form filed 2026-02-02 for transactions on 2026-01-29/30; filing appears timely under the 2-business-day Form 4 rule.

Context

• These entries reflect the equity conversion and settlement provisions of the Merger Agreement between PotlatchDeltic and Rayonier (Effective Time). Under the merger terms (footnotes), each PotlatchDeltic share converted into Rayonier common shares plus $0.61 cash, and outstanding RSUs/performance awards converted into Rayonier RSU awards per the exchange ratio and specified rounding/vesting rules. This is a corporate transaction, not an open-market buy or sell driven by the insider’s investment decision.