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 June 30, 2024, the Company issued 63,708 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, 2024, the Company issued 20,292 common shares in exchange for an equal number of units in the Operating Partnership pursuant to the agreement of the Operating Partnership.
ISSUER REPURCHASES 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 2024.
−Removed: As of June 30, 2024, there was $87.7 million, or approximately 3,015,760 shares based on the period-end closing stock price of $29.09, remaining under this program.
−Removed: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended June 30, 2024:
+Added: There were no shares repurchased under this program in the third quarter of 2024.
+Added: As of September 30, 2024, there was $87.7 million, or approximately 2,726,179 shares based on the period-end closing stock price of $32.18, remaining under this program.
+Added: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended September 30, 2024:
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 30 125,956 $31.75 — 2,957,803
−Removed: May 1 to May 31 4,242 29.64 — 2,922,333
−Removed: June 1 to June 30 262 30.22 — 3,015,760
−Removed: Total 130,460 —
+Added: July 1 to July 31 111 $28.03 — 2,892,464
+Added: August 1 to August 31 — — — 2,847,402
+Added: September 1 to September 30 111 30.81 — 2,726,179
(a) Includes 222 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 $29.66, $30.02 and $29.09, 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 $30.33, $30.81 and $32.18, 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, 2024.
+Added: There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended September 30, 2024.
ISSUER REPURCHASES 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, 2024, 63,708 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, 2024, 20,292 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.