Tyler Michele 4

What Happened
Tyler Michele, VP, General Counsel & Corporate Secretary of PotlatchDeltic (PCH), received 34,323.679 derivative shares (Rayonier RSU awards) on 2026-01-29 and had a total of 81,567.442 shares disposed to the issuer on 2026-01-30 (47,243.763 common shares and 34,323.679 derivative shares). The award shows $0.00 paid (derivative grant) and the dispositions are reported as "Disposition to the issuer" (no open-market sale price reported). These transactions were part of the company’s merger into Rayonier, not routine open-market buys/sells.

Key Details

• Dates and actions:
  • 2026-01-29: Grant/acquisition of 34,323.679 derivative shares @ $0.00 (Rayonier RSU award).
  • 2026-01-30: Disposition to the issuer of 47,243.763 common shares (N/A price).
  • 2026-01-30: Disposition to the issuer of 34,323.679 derivative shares (N/A price).
• Total shares disposed to issuer: 81,567.442.
• Shares owned after transaction: Not specified on the Form 4; transactions reflect merger conversion and surrender/transfer to issuer.
• Footnotes of note:
  • F1: At the merger Effective Time, each PotlatchDeltic common share converted into 1.8185 Rayonier common shares plus $0.61 cash (plus fractional share treatment).
  • F2–F3: Outstanding RSUs and performance awards converted into Rayonier RSU awards per the merger terms (including dividend equivalents and certain vesting treatment).
• Filing timeliness: Reported on 2026-02-02 for transactions dated 2026-01-29 and 01-30 — appears timely under Form 4 rules.

Context: These were merger-related conversions and dispositions (not open-market trades). The derivative line reflects conversion of PotlatchDeltic RSUs into Rayonier RSU awards and subsequent disposition to the issuer per the Merger Agreement. No cash purchase or speculative trading signal is indicated by these filings.