Breard Linda M. 4
4 · POTLATCHDELTIC CORP · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
POTLATCH (PCH) Director Linda Breard Disposes 31,958 Shares in Merger
What Happened
Linda M. Breard, a director of PotlatchDeltic Corp. (PCH), recorded a disposition to the issuer of 31,958.308 Potlatch common shares on 2026-01-30. The filing reports this as a merger-related conversion (Disposition, code D) rather than an open-market sale. Under the merger terms, each Potlatch share was converted into 1.8185 Rayonier common shares plus $0.61 cash, so Breard’s surrendered shares converted into approximately 58,116 Rayonier shares and roughly $19,494 in cash (cash portion = 31,958.308 × $0.61). No per-share market sale price is reported on the Form 4.
Key Details
- Transaction date: 2026-01-30; Form 4 filed: 2026-02-02. The Form 4 does not indicate lateness.
- Disposed: 31,958.308 Potlatch common shares (transaction code D — disposition to issuer in connection with merger). Price per share: N/A (conversion-based consideration).
- Consideration received: ~58,116 Rayonier common shares (1.8185 ratio) and ~$19,494 cash ($0.61 per Potlatch share).
- Shares owned after transaction: not specified in the provided filing details.
- Notable footnotes: F1–F3 explain the October 13, 2025 Merger Agreement—common shares converted to Rayonier shares + $0.61 cash (F1); restricted stock units and stock equivalent units were converted into corresponding Rayonier awards/units subject to existing award and deferred compensation plan terms (F2–F3).
Context: This was a merger conversion/settlement under the Rayonier acquisition of PotlatchDeltic, not an open-market sale or discretionary trade. Such dispositions reflect deal consideration (stock + cash) paid at the effective time rather than a signal of active insider selling behavior.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2][F3]2026-01-30−31,958.308→ 0 total
Footnotes (3)
- [F1]In connection with the terms of an Agreement and Plan of Merger, dated October 13, 2025 (as it may be amended from time to time, the "Merger Agreement"), by and among the Issuer, Rayonier Inc. ("Rayonier"), and Redwood Merger Sub, LLC, a direct, wholly owned subsidiary of Rayonier ("Merger Sub"), the Issuer merged with and into Merger Sub, with Merger Sub surviving as a direct, wholly owned subsidiary of Rayonier (the "Effective Time"). At the Effective Time, each outstanding share of Common Stock was automatically converted into the right to receive (i) 1.8185 Rayonier common shares and (ii) $0.61 in cash, without interest, plus any fractional share consideration.
- [F2]At the Effective Time, each outstanding restricted stock unit converted into a Rayonier restricted stock unit award (each, a "Rayonier RSU award"), taking into account any dividend equivalents, based on the equity award exchange ratio, as defined in the Merger Agreement, rounded to the nearest whole number of shares. Each such Rayonier RSU award will be subject to the terms of any applicable Issuer equity plan and Issuer restricted stock unit agreement in effect immediately prior to the Effective Time (including any double-trigger vesting acceleration entitlements).
- [F3]At the Effective Time, each outstanding stock equivalent unit converted into a stock equivalent unit with respect to a number of Rayonier common shares calculated based on the number of shares of Common Stock underlying the stock equivalent unit, taking into account any dividend equivalents, multiplied by the equity award exchange ratio, rounded to the nearest whole number of shares. The Rayonier stock equivalent units will be subject to the terms of any applicable Issuer deferred compensation plan.