COVEY MICHAEL J 4
4 · RAYONIER INC · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Rayonier Director Michael Covey Receives 6,811-Share Award
What Happened
Michael J. Covey, a director of Rayonier Inc. (RYN), was granted 6,811 restricted shares on May 15, 2026 as compensation for board service. The shares were valued at $19.82 each, for a total grant value of $134,994. The transaction is reported as an award/acquisition (code A) rather than an open-market purchase.
Key Details
- Transaction date: 2026-05-15; filing date (Form 4): 2026-05-19 (filed within the 2-business-day deadline).
- Price per share: $19.82; total value: $134,994.
- Transaction type: Restricted stock grant (compensation for board service).
- Vesting/transfer restrictions (footnote F1): Award vests immediately but is restricted from transfer until the earlier of four years from grant or six months after the director leaves the board.
- Dividend equivalent units (F2): Includes 233.6 DEUs acquired since the last report; DEUs vest/pay with the underlying award and are subject to any deferral election.
- Shares owned after transaction: Not specified in the provided filing.
Context
This was a compensation award to a board member (typical for non-employee directors) rather than a market buy or sale. Restricted stock grants increase an insider's holdings but are subject to transfer and payout conditions, so they don't necessarily signal immediate buying or selling intent.
Insider Transaction Report
Form 4
RAYONIER INCRYN
COVEY MICHAEL J
Director
Transactions
- Award
Common Shares
[F1][F2]2026-05-15$19.82/sh+6,811$134,994→ 238,388.6 total
Footnotes (2)
- [F1]Restricted stock granted as compensation for serving as a member of the Board of Directors of the Issuer. Such award vests immediately and is subject to restrictions on transfer until the earlier of four years from the date of the grant or upon a date six months following the date on which the Reporting Person ceases to serve as a member of the Board of Directors.
- [F2]Includes 233.6 dividend equivalent units ("DEU") acquired since the Reporting Person's last report. These DEUs will vest and be paid at the same time as the underlying award and be subject to the Reporting Person's deferral election, if any, under the applicable plan under which such awards were issued.
Signature
/s/ Sarah E. Miles / Attorney-In-Fact|2026-05-19