Rogers W. Rhett 4

What Happened
Rogers W. Rhett, EVP, Land Resources at Rayonier Inc. (RYN), was granted/acquired 34,797 shares on January 30, 2026 at a reported price of $0.00 (total $0). The award reflects the conversion/settlement of performance share units (PSUs) in connection with Rayonier’s merger with Potlatchdeltic, which caused outstanding PSUs to be deemed achieved and converted to shares subject only to remaining time-based vesting.

Key Details

• Transaction date: 2026-01-30; Report filed: 2026-02-03 (filed within the two-business-day Form 4 deadline).
• Price: $0.00 per share; total reported cash value = $0.
• Shares reported acquired: 34,797 shares (transaction code A = Award/Grant).
• Post-transaction beneficial ownership: not specified in the filing.
• Footnote: Merger (Potlatch into Rayonier Merger Sub) caused each PSU to be deemed achieved based on the greater of target and actual performance; awards remain subject to original time-based vesting.
• Remaining PSUs noted for Mr. Rhett: 9,804 PSUs vesting 4/1/2026; 11,164 PSUs vesting 4/1/2027; 13,829 PSUs vesting 4/1/2028.

Context
This was an award resulting from a corporate merger-driven PSU conversion rather than an open-market purchase or sale. Such merger-related conversions commonly produce share grants with no cash price and do not by themselves signal a buy or sell decision by the insider.