SCHEDULE: Barnwell Industries Stakeholder Update

Radoff entities report increased beneficial ownership in Barnwell Industries to 11.4% due to a change in outstanding shares.

Summary

• This filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership of Barnwell Industries Inc. common stock.
• The Radoff Family Foundation now beneficially owns 840,135 shares, representing approximately 5.8% of the outstanding shares.
• Bradley L. Radoff directly beneficially owns 840,136 shares, also representing approximately 5.8% of the outstanding shares.
• Combined, the Radoff entities beneficially own 1,680,271 shares, totaling approximately 11.4% of the outstanding shares.
• The increase in percentage ownership is attributed to a change in the total number of outstanding shares of Barnwell Industries, which was 14,233,259 as of April 9, 2026.
• This change in outstanding shares also impacts the ownership percentage related to common warrants exercisable by the Reporting Persons within the next 60 days.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily an update on ownership percentages due to changes in outstanding shares rather than a reflection of company performance or new strategic initiatives.

Positives

• Increased beneficial ownership percentage to 11.4% by Radoff entities, indicating growing stakeholder interest.
• Clarity provided on the exact number of shares beneficially owned by both the Radoff Family Foundation and Bradley L. Radoff individually.
• The filing explicitly states that the Reporting Persons disclaim beneficial ownership of shares they do not directly own, maintaining transparency.

Negatives

• The filing does not contain any negative financial results or operational setbacks.
• No indication of any adverse legal or regulatory actions against the reporting persons or the company.

Risks

• Potential for increased scrutiny from regulatory bodies due to significant beneficial ownership.
• Future actions by the Radoff entities could impact the company's stock price and strategic direction.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from Barnwell Industries. The future outlook is primarily related to the potential exercise of common warrants within the next 60 days and the implications of the increased beneficial ownership percentage.

Management Comments

• "The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Exchange Act, the beneficial owners of any securities of the Issuer that he or it does not directly own."
• "Each Reporting Person disclaims beneficial ownership of the Shares that he or it does not directly own."

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for tracking significant changes in beneficial ownership, often signaling potential activist investor interest or strategic shifts within an industry. This filing highlights a notable increase in stake by the Radoff entities in Barnwell Industries.

Stakeholder Impact

• Shareholders: The increased ownership by a significant entity may influence market perception and potentially lead to future strategic proposals affecting shareholder value.
• Management: May face increased engagement or pressure from the Radoff entities regarding company strategy and governance.
• Creditors: No direct impact indicated, but significant ownership changes can indirectly affect a company's financial stability perception.

Next Steps

• Monitoring of any further filings by the Radoff entities regarding their stake in Barnwell Industries.
• Observation of potential exercise of common warrants within the next 60 days.
• Tracking any future strategic communications or actions from Barnwell Industries concerning its share structure.

Key Dates

Keywords

Schedule 13D, Barnwell Industries, Beneficial Ownership, Radoff Family Foundation, Bradley L. Radoff, Common Stock, SEC Filing, Securities Exchange Act, Warrants