Pyatt Shelby L 4

What Happened Shelby L. Pyatt, Senior Vice President of Human Resources and IT at Rayonier Inc. (RYN), was credited with 16,459 shares on January 30, 2026 via an award/grant (code A). The Form 4 reports an acquisition of 16,459 shares at a reported price of $0.00 (total $0 on grant). This was not an open-market purchase or sale by the insider but a corporate equity award tied to prior performance share unit (PSU) grants.

Key Details

• Transaction date and type: 2026-01-30 — Award/Grant (code A), price $0.00.
• Share count: 16,459 shares granted (sum of PSUs listed in footnote).
• Shares/vests after transaction: The reporting person held PSUs of 4,977 (vest 4/1/2026), 5,236 (vest 4/1/2027) and 6,246 (vest 4/1/2028), totaling 16,459 PSUs now time‑vested per original schedules.
• Footnote (merger effect): Per the October 13, 2025 merger agreement with Potlatchdeltic, outstanding PSUs were deemed achieved at the greater of target or actual performance at the merger’s Effective Time; remaining conditions are time-based vesting per original dates.
• Filing timeliness: Reported on Form 4 filed 2026-02-03 for a 2026-01-30 transaction — appears timely (within required reporting window).
• No 10b5-1 plan, tax withholding, or immediate sale indicated in the filing.

Context These were performance share units converted to time‑vested awards because of a change of control from Rayonier’s merger with Potlatchdeltic. That means the performance hurdle was treated as met (per the merger terms), and the awards will vest on their original schedule — this is a company action, not a direct market buy or sell by the insider. For retail investors, such merger-related vesting is a routine corporate equity adjustment rather than a clear bullish or bearish signal from the individual insider.