<SEC-DOCUMENT>0000899681-21-000012.txt : 20210216
<SEC-HEADER>0000899681-21-000012.hdr.sgml : 20210216
<ACCEPTANCE-DATETIME>20210216145553
ACCESSION NUMBER:		0000899681-21-000012
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210209
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20210216
DATE AS OF CHANGE:		20210216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARNWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000010048
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				720496921
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05103
		FILM NUMBER:		21636633

	BUSINESS ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 2900
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813
		BUSINESS PHONE:		808-531-8400

	MAIL ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 2900
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BMA CORP/TN
		DATE OF NAME CHANGE:	19770324

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BARNWELL OFFSHORE INC
		DATE OF NAME CHANGE:	19671101
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>p21-0011_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, DC 20549</div>
    <div><br>
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    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Current Report Pursuant to Section&#160;13 or 15(d)</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">of the Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;">Date of Report (Date of earliest event reported):<font style="font-weight: bold;"> February
        9, 2021</font></div>
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    <div style="text-align: center; font-size: 24pt; font-weight: bold;">BARNWELL INDUSTRIES, INC.</div>
    <div style="text-align: center; font-size: 12pt;">(Exact Name of Registrant as Specified in its Charter)</div>
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            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Delaware</div>
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          <td style="width: 27.01%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">1-5103</div>
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          <td style="width: 33.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">72-0496921</div>
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            <div style="text-align: center; font-size: 12pt;">(State or other jurisdiction of Incorporation)</div>
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            <div style="text-align: center; font-size: 12pt;">(Commission File Number)</div>
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            <div style="text-align: center; font-size: 12pt;">(IRS Employer Identification No.)</div>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">1100 Alakea Street, Suite 2900</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Honolulu, Hawaii&#160; 96813</div>
    <div style="text-align: center;">(Address of Principal Executive Offices) (Zip Code)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">(808)&#160;531-8400</div>
    <div style="text-align: center;">(Registrant&#8217;s Telephone Number, Including Area Code)</div>
    <div><br>
    </div>
    <div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">Not Applicable</div>
      <div style="text-align: center;">(Former Name or Former Address, if Changed Since Last Report)</div>
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      <div style="font-size: 12pt;">&#160;</div>
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    <div style="text-align: justify;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <div style="text-align: justify;">&#160;</div>
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            <div style="text-align: center;">Title of each class</div>
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            <div>&#160;</div>
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            <div style="text-align: center;">Trading Symbol(s)</div>
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            <div style="text-align: center;">Name of each exchange on which registered</div>
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            <div style="text-align: center;">Common Stock, $0.50 Par Value</div>
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            <div>&#160;</div>
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            <div style="text-align: center;">BRN</div>
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            <div style="text-align: center;">NYSE American</div>
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    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
      following provisions:</div>
    <div>&#160;</div>
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            <div>[&#160;&#160;]</div>
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            <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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            <div>[&#160;&#160;]</div>
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            <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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            <div>[&#160;&#160;]</div>
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            <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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            <div>[&#160;&#160;]</div>
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            <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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    <div style="text-align: justify;">&#160;</div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter)
      or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).&#160; Emerging growth company [&#160;&#160;]</div>
    <div><br>
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    <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
      revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&#160;&#160;]</div>
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    <div style="text-indent: -54pt; margin-left: 54pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;"><u>Item
          5.02</u>&#160; <u>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</u>.</div>
    <div style="margin-bottom: 12pt; font-size: 12pt;">On February 9, 2021 (the &#8220;Grant Date&#8221;), the Board of Directors of Barnwell Industries, Inc. (&#8220;Barnwell&#8221; or the &#8220;Company&#8221;), pursuant to
      the Company&#8217;s 2018 Equity Incentive Plan (the &#8220;Plan&#8221;),which authorized an aggregate of 800,000 shares of the Company&#8217;s common stock (&#8220;Common Stock&#8221;) for awards granted under the Plan, subject to adjustment as provided in the Plan, granted to
      Alexander C. Kinzler, the Company&#8217;s Chief Executive Officer and President, an option to purchase 60,000 shares of Common Stock at an exercise price of $3.66 per share (110% of the closing price of the Company&#8217;s Common Stock on the NYSE American stock
      exchange on the Grant Date) and granted to Russell M. Gifford, the Company&#8217;s Chief Financial Officer, an option to purchase 60,000 shares of Common Stock at an exercise price of $3.33 per share (the closing price of the Common Stock on the NYSE
      American on the Grant Date).&#160; Both of those options vest and become exercisable in three equal annual installments beginning on February 9, 2022.</div>
    <div style="margin-bottom: 12pt; font-size: 12pt;">The foregoing summary of the terms of the option awards granted by the Company to Messrs. Kinzler and Gifford is qualified in its
      entirety by reference to the form of option agreement to be filed as an exhibit to the Company&#8217;s Quarterly Report on Form 10-Q for its fiscal quarter ending March 31, 2021.</div>
    <div style="margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;"><u>Item 8.01</u></font>&#160; <font style="font-weight: bold;"><u>Other Events</u></font>.</div>
    <div style="margin-bottom: 12pt; font-size: 12pt;">In addition to the options to purchase an aggregate of 120,000 shares of Common Stock granted to Mr. Kinzler and Mr. Gifford, discussed
      in Item 5.02 above, on the Grant Date, the Company also granted options to purchase an aggregate of 310,000 shares of Common Stock to the members of the Company&#8217;s Board of Directors (other than Mr. Kinzler) and granted options to purchase an
      aggregate of 235,000 shares of Common Stock to certain officers and employees of the Company (other than Mr. Kinzler and Mr. Gifford).&#160; Each of those options has an exercise price of $3.33 and vests and becomes exercisable in three equal annual
      installments beginning on February 9, 2022.</div>
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    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">SIGNATURE</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
      signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div style="margin-bottom: 12pt; font-size: 12pt;">Dated: February 16, 2021</div>
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            <div style="font-size: 12pt;">BARNWELL INDUSTRIES, INC.</div>
          </td>
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          <td style="width: 44.78%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
          <td style="width: 6.53%; vertical-align: top; padding-bottom: 1px;">
            <div style="font-size: 12pt;">By:</div>
          </td>
          <td style="width: 48.69%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
            <div>
              <div style="font-size: 12pt;">/s/ Russell M. Gifford</div>
            </div>
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          <td style="width: 44.78%; vertical-align: top;">&#160;</td>
          <td style="width: 6.53%; vertical-align: top;">&#160;</td>
          <td style="width: 9.33%; vertical-align: top;">
            <div style="text-indent: -18pt; margin-left: 18pt; font-size: 12pt;">Name:</div>
          </td>
          <td style="width: 39.37%; vertical-align: top;">
            <div style="text-indent: -18pt; margin-left: 18pt; font-size: 12pt;">Russell M. Gifford</div>
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          <td style="width: 44.78%; vertical-align: top;">&#160;</td>
          <td style="width: 6.53%; vertical-align: top;">&#160;</td>
          <td style="width: 9.33%; vertical-align: top;">
            <div style="text-indent: -18pt; margin-left: 18pt; font-size: 12pt;">Title:</div>
          </td>
          <td style="width: 39.37%; vertical-align: top;">
            <div style="text-indent: 0.2pt; font-size: 12pt;">Executive Vice President and Chief Financial Officer</div>
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