Barnwell Industries (BRN) 8-K Summary: Executive Transition

Date: October 27, 2025

Key management changes announced:

• CFO Retirement: Long-serving CFO Russell Gifford plans to retire by year-end 2025.
• New Executive: Philip F. Patman, Jr. appointed EVP – Finance immediately and joined the Board (increasing size to five directors).
• Succession Plan: Patman is expected to succeed Gifford as CFO following retirement.

Patman Employment Details:

• Base Salary: $315,000 annually.
• Initial Equity Awards (Vesting 2026-2028):
  • 83,207 shares.
  • 83,208