−Removed: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS, AND ISSUER PURCHASES OF EQUITY SECURITIES
Rayonier Inc.
2 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 June 30, 2023, the Company issued 10,103 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 September 30, 2023, the Company issued 15,904 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 second quarter of 2023.
−Removed: As of June 30, 2023, there was $87.7 million, or approximately 2,793,900 shares based on the period-end closing stock price of $31.40, remaining under this program.
−Removed: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended June 30, 2023:
+Added: There were no shares repurchased under this program in the third quarter of 2023.
+Added: As of September 30, 2023, there was $87.7 million, or approximately 3,082,518 shares based on the period-end closing stock price of $28.46, remaining under this program.
+Added: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended September 30, 2023:
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: April 1 to April 30 125,979 $32.71 — 2,797,463
−Removed: May 1 to May 31 527 30.07 — 2,992,103
−Removed: June 1 to June 30 282 29.96 — 2,793,900
−Removed: Total 126,788 —
+Added: July 1 to July 31 38 $31.40 — 2,648,806
+Added: August 1 to August 31 10 32.94 — 2,934,062
+Added: September 1 to September 30 920 30.11 — 3,082,518
(a) Includes 968 shares repurchased to satisfy tax withholding requirements related to the vesting of shares under the Rayonier 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 April, May and June are based on month-end closing stock prices of $31.36, $29.32 and $31.40, respectively.
+Added: (c) Maximum number of shares authorized to be purchased under the share repurchase program at the end of July, August and September are based on month-end closing stock prices of $33.12, $29.90 and $28.46, 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 June 30, 2023.
+Added: There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended September 30, 2023.
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 June 30, 2023, 10,103 units in the Operating Partnership held by limited partners were redeemed in exchange for shares of Rayonier Common Stock.
+Added: During the quarter ended September 30, 2023, 15,904 units in the Operating Partnership held by limited partners were redeemed in exchange for shares of Rayonier Common Stock.
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.