4 unchanged sentences
Such shares are issued based on an exchange ratio of one common share for each unit, pursuant to the agreement of the Operating Partnership.
−Removed: During the quarter ended March 31, 2026, the Company issued 637 common shares in exchange for an equal number of units in the Operating Partnership.
+Added: During the quarter ended June 30, 2026, the Company issued 4,293 common shares in exchange for an equal number of units in the Operating Partnership.
ISSUER REPURCHASES OF EQUITY SECURITIES
2 unchanged sentences
The repurchase program has no time limit and may be suspended for periods or discontinued at any time.
−Removed: During the first quarter of 2026, the Company repurchased 1,480,753 shares under this program.
−Removed: As of March 31, 2026, $198.4 million remained available for future repurchases, representing approximately 9,620,972 shares based on the period-end closing stock price of $20.62.
−Removed: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended March 31, 2026:
+Added: During the second quarter of 2026, the Company repurchased 3,455,482 shares under this program.
+Added: As of June 30, 2026, $126.0 million remained available for future repurchases, representing approximately 5,920,692 shares based on the period-end closing stock price of $21.28.
+Added: The following table provides information regarding our purchases of Rayonier common shares during the quarter ended June 30, 2026:
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 — — — 10,090,271
−Removed: February 1 to February 28 309,805 $22.47 270,000 10,394,809
−Removed: March 1 to March 31 1,216,512 $20.64 1,210,753 9,620,972
+Added: April 1 to April 30 1,284,961 $21.17 1,179,834 8,174,656
+Added: May 1 to May 31 1,226,876 $20.49 1,225,648 7,097,780
+Added: June 1 to June 30 1,051,228 $21.22 1,050,000 5,920,692
Total 3,563,065 3,455,482
2 unchanged sentences
(b) Consists of purchases made in open-market transactions under the $300 million share repurchase program announced on December 2, 2024.
−Removed: (c) The maximum number of shares authorized to be purchased under the repurchase program at the end of January, February and March is based on the month-end closing stock prices of $22.74, $21.49, and $20.62, respectively.
+Added: (c) The maximum number of shares authorized to be purchased under the repurchase program at the end of April, May and June is based on the month-end closing stock prices of $21.21, $20.89, and $21.28, 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, 2026.
+Added: There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended June 30, 2026.
ISSUER REPURCHASES OF EQUITY SECURITIES
Pursuant to the Operating Partnership’s limited partnership agreement, limited partners have the right to redeem their Operating Partnership units for cash, or at our election, shares of Rayonier Common Stock on a one-for-one basis.
−Removed: During the quarter ended March 31, 2026, 637 units in the Operating Partnership were redeemed by limited partners in exchange for an equal number of shares of Rayonier Common Stock.
+Added: During the quarter ended June 30, 2026, 4,293 units held by limited partners were redeemed in exchange for an equal number of shares of Rayonier common stock.
+Added: In addition, during the quarter, limited partners tendered 43,811 units for redemption, for which the Company elected cash settlement in an aggregate amount of approximately $0.9 million.
+Added: These redemptions will settle on the applicable Specified Redemption Dates during the third quarter of 2026.
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.