4 unchanged sentences
Such shares are issued based on an exchange ratio of one common share for each unit in the Operating Partnership.
−Removed: During the quarter ended March 31, 2022, the Company issued 2,535 common shares in exchange for an equal number of units in the Operating Partnership pursuant to the agreement of the Operating Partnership.
+Added: During the quarter ended June 30, 2022, the Company issued 977 common shares in exchange for an equal number of units in the Operating Partnership pursuant to the agreement of the Operating Partnership.
ISSUER PURCHASES OF EQUITY SECURITIES
1 unchanged sentence
The program has no time limit and may be suspended or discontinued at any time.
−Removed: There were no shares repurchased under this program in the first quarter of 2022.
−Removed: As of March 31, 2022, there was $87.7 million, or approximately 2,133,474 shares based on the period-end closing stock price of $41.12, remaining under this program.
−Removed: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended March 31, 2022:
+Added: There were no shares repurchased under this program in the second quarter of 2022.
+Added: As of June 30, 2022, there was $87.7 million, or approximately 2,346,935 shares based on the period-end closing stock price of $37.38, remaining under this program.
+Added: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended June 30, 2022:
Period Total Number of Shares Purchased (a) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (b) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (c)
−Removed: January 1 to January 31 5,392 $39.44 — 2,400,888
−Removed: February 1 to February 28 — — — 2,209,785
−Removed: March 1 to March 31 28 33.59 — 2,133,474
+Added: April 1 to April 30 90,405 $43.51 — 2,030,751
+Added: May 1 to May 31 324 39.52 — 2,128,298
+Added: June 1 to June 30 1,091 40.96 — 2,346,935
Total 91,820 —
−Removed: (a) Includes 5,420 shares of the Company’s common shares purchased in January, February and March from current and former employees in non-open market transactions.
+Added: (a) Includes 91,820 shares of the Company’s common shares purchased in April, May and June from current and former employees in non-open market transactions.
The shares were sold by current and former employees of the Company in exchange for cash that was used to pay withholding taxes associated with the vesting of share-based awards under the Company’s Incentive Stock Plan.
1 unchanged sentence
(b) Purchases made in open-market transactions under the $100 million share repurchase program announced on February 10, 2016.
−Removed: (c) Maximum number of shares authorized to be purchased under the share repurchase program at the end of January, February and March are based on month-end closing stock prices of $36.54, $39.70 and $41.12, respectively.
+Added: (c) Maximum number of shares authorized to be purchased under the share repurchase program at the end of April, May and June are based on month-end closing stock prices of $43.20, $41.22 and $37.38, respectively.
Rayonier, L.P.
UNREGISTERED SALES OF EQUITY SECURITIES
−Removed: There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended March 31, 2022.
+Added: There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended June 30, 2022.
ISSUER PURCHASES OF EQUITY SECURITIES
Pursuant to the Operating Partnership’s limited partnership agreement, limited partners have the right to redeem their units in the Operating Partnership for cash, or at our election, shares of Rayonier Common Stock on a one-for-one basis.
−Removed: During the quarter ended March 31, 2022, 2,535 units in the Operating Partnership held by limited partners were redeemed in exchange for shares of Rayonier Common Stock.
−Removed: 10.1 Rayonier Investment and Savings Plan for Salaried Employees effective March 1, 1994, amended and restated effective March 1, 2022*
−Removed: Filed herewith
+Added: During the quarter ended June 30, 2022, 977 units in the Operating Partnership held by limited partners were redeemed in exchange for shares of Rayonier Common Stock.
22.1 List of Guarantor Subsidiaries
19 unchanged sentences
101 The following financial information from Rayonier Inc.
−Removed: and Rayonier, L.P.’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022, formatted in Extensible Business Reporting Language (“XBRL”), includes:
−Removed: (i) the Consolidated Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2022 and 2021 of Rayonier Inc.;
−Removed: (ii) the Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 of Rayonier Inc.;
−Removed: (iii) the Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2022 and 2021 of Rayonier Inc.;
−Removed: (iv) the Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2022 and 2021 of Rayonier Inc.;
−Removed: (v) the Consolidated Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2022 and 2021 of Rayonier, L.P.;
−Removed: (vi) the Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 of Rayonier, L.P.;
−Removed: (vii) the Consolidated Statements of Changes in Capital for the Three Months Ended March 31, 2022 and 2021 of Rayonier, L.P.;
−Removed: (viii) the Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2022 and 2021 of Rayonier, L.P.;
+Added: and Rayonier, L.P.’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2022, formatted in Extensible Business Reporting Language (“XBRL”), includes:
+Added: (i) the Consolidated Statements of Income and Comprehensive Income for the Three and Six Months Ended June 30, 2022 and 2021 of Rayonier Inc.;
+Added: (ii) the Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 of Rayonier Inc.;
+Added: (iii) the Consolidated Statements of Changes in Shareholders’ Equity for the Six Months Ended June 30, 2022 and 2021 of Rayonier Inc.;
+Added: (iv) the Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2022 and 2021 of Rayonier Inc.;
+Added: (v) the Consolidated Statements of Income and Comprehensive Income for the Three and Six Months Ended June 30, 2022 and 2021 of Rayonier, L.P.;
+Added: (vi) the Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 of Rayonier, L.P.;
+Added: (vii) the Consolidated Statements of Changes in Capital for the Six Months Ended June 30, 2022 and 2021 of Rayonier, L.P.;
+Added: (viii) the Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2022 and 2021 of Rayonier, L.P.;
and (ix) the Notes to Consolidated Financial Statements of Rayonier Inc.
1 unchanged sentence
Filed herewith
−Removed: 104 The cover page from the Company’s Quarterly Report on Form 10-Q from the quarter ended March 31, 2022, formatted in Inline XBRL (included as Exhibit 101).
−Removed: * Management contract or compensatory plan.
+Added: 104 The cover page from the Company’s Quarterly Report on Form 10-Q from the quarter ended June 30, 2022, formatted in Inline XBRL (included as Exhibit 101).
Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
3 unchanged sentences
(Duly Authorized Officer, Principal Accounting Officer)
+Added: August 5, 2022
RAYONIER, L.P.
3 unchanged sentences
(Duly Authorized Officer, Principal Accounting Officer)
+Added: August 5, 2022
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.