David L Nunes Form 4 RAYONIER / DAVID L NUNES ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

NUNES DAVID L

(Last) (First) (Middle)

1 RAYONIER WAY

(Street)

WILDLIGHT FL 32034

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RAYONIER INC [ RYN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/27/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/27/2021		C		362,400	A	$0(1)	598,873	D
Common Shares	09/27/2021		C		2,439	A	$0(2)	4,000	I	By UGMA Custodian for Child
Common Shares								474.9145	I	In Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Limited Partnership Units of Rayonier, L.P.	(1)	09/27/2021		C			362,400	(3)	(3)	Common Shares	362,400	$0	0	D
Limited Partnership Units of Rayonier, L.P.	(2)	09/27/2021		C			2,439	(3)	(3)	Common Shares	2,439	$0	0	I	By UGMA Custodian for Child

Explanation of Responses:

1. The reporting person redeemed 362,400 limited partnership units ("Units") of Rayonier, L.P. ("ROP"), of which Rayonier Inc. ("Rayonier") is the general partner. Units are redeemable for an equal number of shares of Rayonier's common shares or, at the election of Rayonier, cash as determined in accordance with the limited partnership agreement. Rayonier elected to redeem the Units with common shares.

2. The reporting person redeemed 2,439 Units of ROP, of which Rayonier is the general partner. Units are redeemable for an equal number of shares of Rayonier's common shares or, at the election of Rayonier, cash as determined in accordance with the limited partnership agreement. Rayonier elected redeem the Units with common shares.

3. Subject to certain limitations, these Units are immediately exercisable and have no expiration date.

Remarks:

EXHIBIT LIST: EX-24 Nunes POA

	/s/ Cynthia L. Jones / Attorney-In-Fact	09/28/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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