Form 4: PotlatchDeltic Director Disposes Shares Post-Merger

PotlatchDeltic Director Larry Peiros reported the disposition of all his common stock and phantom stock units following the company's merger with Rayonier Inc. on January 30, 2026.

Summary

• Larry Peiros, a Director of PotlatchDeltic Corp, reported changes in his beneficial ownership.
• The transactions occurred on January 30, 2026, following the merger of PotlatchDeltic with Redwood Merger Sub, LLC, a wholly-owned subsidiary of Rayonier Inc.
• At the merger's effective time, each outstanding share of PotlatchDeltic Common Stock was converted into 1.8185 Rayonier common shares and $0.61 in cash, plus any fractional share consideration.
• Peiros disposed of 75,257.889 shares of Common Stock held directly and 10,441 shares held indirectly in trust.
• He also disposed of 13,206.386 Phantom Stock Units.
• Following these transactions, Peiros beneficially owns 0 shares of PotlatchDeltic Common Stock and 0 Phantom Stock Units.
• Outstanding restricted stock units and stock equivalent units were converted into equivalent Rayonier awards, subject to their original terms and vesting acceleration entitlements.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as it confirms the successful completion of the merger and the orderly conversion of insider holdings according to the announced terms, providing clarity for investors.

Positives

• The filing confirms the clear execution of merger terms for the director's holdings.
• Former PotlatchDeltic shareholders received a combination of Rayonier common shares and cash for their shares, as per the merger agreement.

Negatives

• PotlatchDeltic Corp ceased to exist as an independent entity, merging into a subsidiary of Rayonier Inc.

Future Outlook

Former PotlatchDeltic shareholders now hold Rayonier common shares and cash, with converted equity awards subject to Rayonier's applicable plans and original vesting terms.

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects the final stages of a significant consolidation within the timber and real estate investment trust (REIT) sector, where PotlatchDeltic, a major player, has been acquired by Rayonier Inc., another prominent entity. Such mergers often aim to achieve economies of scale, enhance market position, and optimize asset portfolios in a capital-intensive industry.

Management Changes

Stakeholder Impact

• Shareholders: Former PotlatchDeltic shareholders received Rayonier common shares and cash, effectively becoming shareholders of Rayonier Inc.
• Employees: Employees holding restricted stock units or stock equivalent units had their awards converted to Rayonier equivalents, maintaining their original vesting schedules.
• Management/Directors: Directors like Larry Peiros ceased to hold securities in PotlatchDeltic as it merged into a subsidiary of Rayonier.

Next Steps

• Former PotlatchDeltic shareholders will now monitor Rayonier Inc.'s performance.
• Rayonier RSU awards and stock equivalent units will continue to vest under their original terms.

Key Dates

Keywords

PotlatchDeltic, PCH, Rayonier, Merger, Form 4, Beneficial Ownership, Director, Stock Conversion, Equity Awards, Corporate Action