Mr Finlay, a father of four, including twin daughters, died in the early hours of July 19, 2013.
According to a Summary of Facts released by Judge Cooper, the 45-year-old was a loader operator in the Taumata Forest, Kinleith.
On the day he died he'd started work about 4.45am in an area known as a skid, (where logs are loaded on to trucks).
As well as not wearing a hi-viz jacket, he didn't have a hard hat on - his was found at his loader after his death.
The summary described how Mr Finlay walked across the skid to speak to another loader operator who was loading a three-bay truck. This process involved the loader's boom swinging in an arc towards the front of the truck.
When the conversation ended, Mr Finlay walked off into the dark.
He was at the back of the truck's trailer when a 4.3m long log, weighing 50kg, struck and killed him.
"How Mr Finlay was struck is unclear," the summary said, adding the log was found near his body.
Members of Mr Finlay's family were in court for the guilty plea but declined to comment until after sentencing. No company representatives were present and the company was represented by Andy Hill, acting for a firm of Auckland solicitors.
The CTU was represented by Tim Braithwaite on behalf of Nigel Hampton QC.
In a statement released after the hearing, the CTU said it had taken the prosecution against the company because the then Ministry of Business Innovation and Employment (now WorkSafe) failed to do so within the prescribed six-months time frame.
An inquest into Mr Finlay's death is one of several deferred by Bay of Plenty coroner, Dr Wallace Bain, until outstanding CTU prosecutions of forestry companies involved in fatalities are completed.