Daniels Ryan M. 4

What Happened
Ryan M. Daniels, Interim Senior Vice President, Wood Products at Rayonier (RYN), was granted 10,256 restricted stock units (RSUs) on March 20, 2026. The grant is reported at $19.50 per share, with a total reported value of $199,992. The Form 4 classifies this transaction as an award/grant (code A) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-20 — Grant of 10,256 RSUs at $19.50 per share (total $199,992).
• Vesting: Footnote states RSUs vest in four equal annual installments beginning on the first anniversary of the grant, subject to continued employment.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Marked late (transactionTimeliness = 'L'). The filer explains the Form 4 was filed after the March 24, 2026 deadline due to a delay in issuance of EDGAR access codes after a timely Form ID submission; the Form 4 was filed promptly once codes were received.

Context
This was an equity grant (RSUs), not an open-market purchase or sale. Grants are a common form of compensation and reflect company-side awards rather than an insider buying stock on the market; vesting conditions mean the economic benefit is realized over time if employment continues. The late filing delays public disclosure but, per the remarks, was caused by an administrative EDGAR access delay rather than a delay in the company's internal reporting.