SEC Filing | Rayonier Inc.

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SEC FORM 3 SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Frazier W. Edwin III

(Last)

(First)

(Middle)

50 NORTH LAURA STREET

19TH FLOOR

(Street)

JACKSONVILLE

32202

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/21/2004

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VP, Governance & Corp Sec

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	10,000⁽¹⁾	D
Common Shares	1,183	I	In Trust⁽²⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
01/02/01 Employee Stock Option	01/02/2004	01/04/2011	Common Shares	7,122	21.52	D
01/03/00 Employee Stock Options	01/03/2003	01/05/2010	Common Shares	4,451	26.26	D
5/17/99 Employee Stock Options	05/17/2002	05/19/2009	Common Shares	4,451	27.14	D
Employee Stock Option	01/02/2003⁽³⁾	01/04/2012	Common Shares	8,903	27.88	D
Employee Stock Options	01/02/2004⁽⁴⁾	01/04/2013	Common Shares	8,903	25.84	D
Employee Stock Options	01/02/2005⁽⁵⁾	01/02/2014	Common Shares	20,000	41.58	D

Explanation of Responses:

1. Grant of restricted shares to vest 01/02/2006 assuming Mr. Frazier's continued employment with Rayonier.

2. Shares are held in the Rayonier Investment and Savings Plan for this person's account.

3. Vests in one-third installments annually commencing 1/2/03.

4. Vest in one-third installments annually commencing 01/02/2004.

5. Vests in one-third installments annually commencing 1/2/05.

Remarks:

	/s/ Frazier, III, W. Edwin	05/28/2004
	** 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 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.