Breard Linda M. 4

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.