# EDGAR Filing Document

**Accession Number:** 0000010048
**File Stem:** 0001140361-23-005990
**Filing Date:** 2023-2
**Character Count:** 19548
**Document Hash:** 38b105ecce2d40972baf66e61e1c341f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-005990.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001140361-23-005990

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**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:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269704
- **FILM NUMBER:** 23612932

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 ALAKEA ST.
- **STREET 2:** SUITE 500
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813
- **BUSINESS PHONE:** 808-531-8400

**MAIL ADDRESS:**
- **STREET 1:** 1100 ALAKEA ST.
- **STREET 2:** SUITE 500
- **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

#### As filed with the Securities and Exchange Commission on February 10, 2023

Registration No. 333-[___]

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

### FORM S-8

#### REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

## BARNWELL INDUSTRIES, INC.
(Exact name of issuer as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **72-0496921** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

---

---

| | |
|:---|:---|
| **1100 Alakea Street, Suite 500** |  |
| **Honolulu, Hawaii** | **96813** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

#### 2018 EQUITY INCENTIVE PLAN
(Full title of the plan)

#### Russell M. Gifford

#### Executive Vice President and Chief Financial Officer

#### 1100 Alakea Street, Suite 500

#### Honolulu, Hawaii 96813
(Name and address of agent for service)

(808) 531-8400

(Telephone number, including area code, of agent for service)

#### Copies to:

#### Christopher Doyle, Esq.

#### Stroock & Stroock & Lavan LLP

#### 180 Maiden Lane

#### New York, New York 10038

#### Telephone: (212) 806-5641

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging Growth Company ☐

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 7(a)(2)(B) of the Securities Act. ☐

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#### Explanatory Note

This Registration Statement on Form S-8 ("Registration Statement") is filed by Barnwell Industries, Inc. (the "Company" or "Registrant") relating to 800,000 shares of common stock, $0.50 par value per share ("Common Stock"), issuable to eligible participants under the Registrant's 2018 Equity Incentive Plan, as amended and restated (the "Plan") which Common Stock is in addition to (i) the 800,000 shares of Common Stock registered on the Registrant's Form S-8 filed with the Securities and Exchange Commission (the "Commission") on December 18, 2020 (Commission File No. 333-251471); (the "Prior Registration Statement").

This Registration Statement relates to securities of the same class as that to which the Prior Registration Statement relates, and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of Additional Securities. Pursuant to General Instruction E of Form S-8, the contents of the Prior Registration Statements, to the extent relating to the registration of the Common Stock issuable under the Plan, are incorporated herein by reference and made part of this Registration Statement, except as amended hereby.

#### PART II

#### INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

**Item 3.** **Incorporation of Documents by Reference.**<br>

The following documents, which have previously been filed by the Registrant with the SEC pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are incorporated by reference herein and shall be deemed to be a part hereof:

(a) the Registrant's Annual Report on [Form 10-K/A](https://www.sec.gov/ix?doc=/Archives/edgar/data/10048/000114036123002887/brhc10047052_10ka.htm) for the fiscal year ended September 30, 2022, filed on January 26, 2023;

(b) the Registrant's Annual Report on [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/10048/000001004822000029/brn-20220930.htm) for the fiscal year ended September 30, 2022, filed on December 29, 2022;

(c) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrant's latest annual report referred to in (a) and (b) above;

(d) The description of the Registrant's Common Stock contained in its Registration Statement on Form 8-C, effective August 3, 1965, including any amendments or reports filed for the purposes of updating that description;
 and

(e) The description of the Registrant's Common Stock contained in the Registration Statement on [Form 8-A/A](https://www.sec.gov/Archives/edgar/data/10048/000114036123002915/brhc10047084_8a12ba.htm) filed
 with the Commission on January 26, 2023.

All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the filing of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing such documents, except as to specific sections of such documents as set forth therein. Unless expressly incorporated into this Registration Statement, a report furnished on Form 8-K prior or subsequent to the filing of this Registration Statement shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement.

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**Item 8.** **Exhibits.**<br>

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| | |
|:---|:---|
| Exhibit No. | **Exhibit Description** |

---

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| | |
|:---|:---|
| 3.1 | Certificate of Incorporation of the Company, as amended (incorporated by reference to the Company's Exhibit 3.1 to the Registrant's Form 10-Q for the quarterly period ended June 30, 2022) |
| 3.2 | Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the Commission on January 14, 2020) |
| 4.1 | Form of the Company's certificate of common stock, par value $0.50 per share (incorporated by reference to the registration statement on Form S-1 originally filed by the Company January 29, 1957, as amended February 15, 1957 and February 19, 1957) |
| 5.1 | Opinion of Stroock & Stroock & Lavan LLP as to the legality of the securities being registered |
| 23.1 | Consent of Weaver and Tidwell, L.L.P. |
| 23.3 | Consent of Stroock & Stroock & Lavan LLP (included in Exhibit 5.1) |
| 24.1 | Power of Attorney (included in the signature pages of this Registration Statement) |
| 99.1 | 2018 Equity Incentive Plan, as amended and restated, (incorporated by reference to the Registrant's definitive proxy statement on Schedule 14A, filed by the Company on March 24, 2022) |
| 107 | Filing Fee Table |

---

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#### SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Honolulu, State of Hawaii, on February 10, 2023.

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| | |
|:---|:---|
|  **BARNWELL INDUSTRIES, INC.**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(registrant) | **BARNWELL INDUSTRIES, INC.**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(registrant) |
| By: | /s/ Russell M. Gifford |
|  | Russell M. Gifford |
|  | Chief Financial Officer, Executive Vice President, Treasurer and Secretary |

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#### POWER OF ATTORNEY
EACH PERSON WHOSE SIGNATURE appears below this Registration Statement hereby constitutes and appoints Alexander C. Kinzler and Russell M. Gifford and each of them, with full power to act without the other, his true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution, for him and in his name, place and stead in any and all capacities (until revoked in writing) to sign all amendments (including post-effective amendments) to this Registration Statement on Form S-8 of Barnwell Industries, Inc. and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary fully to all intents and purposes as he might or could do in person thereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title(s)** | **Date** |
| /s/ ALEXANDER C. KINZLER | President, Chief Executive Officer, General Counsel and Director | February 10, 2023 |
| ALEXANDER C. KINZLER | President, Chief Executive Officer, General Counsel and Director |  |
| /s/ RUSSELL M. GIFFORD | Chief Financial Officer, Executive Vice President, Treasurer and Secretary | February 10, 2023 |
| RUSSELL M. GIFFORD | Chief Financial Officer, Executive Vice President, Treasurer and Secretary |  |
|  | Director, Chairman of the Board |  |
| PETER J. O'MALLEY | Director, Chairman of the Board |  |
| /s/ KENNETH S. GROSSMAN | Director | February 10, 2023 |
| KENNETH S. GROSSMAN |  |  |
|  | Director |  |
| FRANCIS J. KELLY |  |  |
| /s/ BRADLEY M. TIRPAK | Director | February 10, 2023 |
| BRADLEY M. TIRPAK |  |  |
|  | Director |  |
| PHILIP J. MCPHERSON |  |  |
| /s/ DOUGLAS N. WOODRUM | Director | February 10, 2023 |
| DOUGLAS N. WOODRUM |  |  |
| /s/ LAURANCE ELLIOT NARBUT | Director | February 10, 2023  |
| LAURANCE ELLIOT NARBUT |  |  |
| /s/ JOSHUA S. HOROWITZ | Director | February 10, 2023 |
| JOSHUA S. HOROWITZ |  |  |

---

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#### EXHIBIT INDEX

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| | |
|:---|:---|
| Exhibit No. | **Exhibit Description** |

---

---

| | |
|:---|:---|
| [3.1](https://www.sec.gov/Archives/edgar/data/10048/000001004822000016/exhibit31_06302022.htm) | Certificate of Incorporation of the Company, as amended (incorporated by reference to the Company's Exhibit 3.1 to the Registrant's Form 10-Q for the quarterly period ended June 30, 2022) |
| [3.2](https://www.sec.gov/Archives/edgar/data/10048/000089968120000004/p20-0003_ex31.htm) | Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the Commission on January 14, 2020) |
| 4.1 | Form of the Company's certificate of common stock, par value $0.50 per share (incorporated by reference to the registration statement on Form S-1 originally filed by the Company January 29, 1957, as amended February 15, 1957 and February 19, 1957) |
| [5.1](brhc10047727_ex5-1.htm) | Opinion of Stroock & Stroock & Lavan LLP as to the legality of the securities being registered |
| [23.1](brhc10047727_ex23-1.htm) | Consent of Weaver and Tidwell, L.L.P. |
| [23.3](brhc10047727_ex5-1.htm) | Consent of Stroock & Stroock & Lavan LLP (included in Exhibit 5.1) |
| [24.1](#POWEROFATTORNEY) | Power of Attorney (included in the signature pages of this Registration Statement) |
| [99.1](https://www.sec.gov/Archives/edgar/data/10048/000114036122010819/brhc10035626_def14a.htm) | 2018 Equity Incentive Plan, as amended and restated, (incorporated by reference to the Registrant's definitive proxy statement on Schedule 14A, filed by the Company on March 24, 2022) |
| [107](brhc10047727_ex107.htm) | Filing Fee Table |

---

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## Exhibit 5.1

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Exhibit 5.1

![](image00001.jpg)

Stroock & Stroock & Lavan LLP

180 Maiden Lane

New York, NY 10038

#### OPINION OF STROOCK & STROOCK & LAVAN LLP
February 10, 2023

Barnwell Industries, Inc.

1100 Alakea Street, Suite 500

Honolulu, Hawaii 96813

Ladies and Gentlemen:

We have acted as counsel for Barnwell Industries, Inc., a Delaware corporation (the "**Company**"), in connection with the preparation and filing of a registration statement on Form S-8 (the "**Registration Statement**") with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Securities Act**"), relating to the registration of 800,000 shares of the Company's common stock, par value $0.50 per share (the "**Common Stock**"), issuable pursuant to the Barnwell Industries, Inc. 2018 Equity Incentive Plan, as amended and restated (the "**Plan**"). As such counsel, we have made such legal and factual examination and inquiries as we have deemed necessary or appropriate for purposes of this opinion and have made such additional assumptions as are set forth below. This opinion is furnished pursuant to the requirements of Item 601(b)(5) of Regulation S-K.

We, as your counsel, have examined originals or copies of such documents and such matters of fact and law as we have deemed necessary for the purposes of rendering the opinion expressed herein.

In rendering the opinion expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents that we reviewed are genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates of public officials and officers of the Company that we reviewed were and are accurate and (vi) all representations made by the Company as to matters of fact in the documents that we reviewed were and are accurate.

Upon the basis of the foregoing, we are of the opinion that the Common Stock issuable pursuant to the Plan has been duly authorized and, when and to the extent issued pursuant to the Plan upon receipt by the Company of adequate consideration for the Common Stock as specified therein, will be validly issued, fully paid and non-assessable.

This opinion is given as of the date hereof. We assume no obligation to update or supplement this opinion to reflect any facts or circumstances which may hereafter come to our attention or any changes in laws which may hereafter occur.

We are members of the Bar of the State of New York, and the foregoing opinion is limited to the laws of the State of New York and the General Corporation Law of the State of Delaware. The opinion is strictly limited to the matters stated herein and no other or more extensive opinion is intended, implied or to be inferred beyond the matters expressly stated herein.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.

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| |
|:---|
| Very truly yours, |
| /s/ Stroock & Stroock & Lavan LLP |

---

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## Exhibit 23.1

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Exhibit 23.1

#### Consent of Independent Registered Public Accounting Firm
We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 of Barnwell Industries, Inc. of our report dated December 29, 2022, with respect to the consolidated financial statements which appear in Barnwell Industries, Inc.'s Annual Report on Form 10-K for the year ended September 30, 2022.

/s/ WEAVER AND TIDWELL, L.L.P.

Dallas, Texas

February 10, 2023

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## Ex-Filing

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#### EXHIBIT 107

#### CALCULATION OF FILING FEE TABLES

#### Form S-8
(Form Type)

#### Barnwell Industries, Inc.
(Exact name of Registrant as specified in its charter)

Table 1: Newly Registered Securities

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Type | Security Class<br> Title | Fee<br> Calculation<br> Rule | Amount<br> Registered (1) | Proposed<br> Maximum<br> Offering<br> Price Per<br> Unit (2) | Maximum <br> Aggregate Offering <br> Price (2) | Fee Rate | Amount of<br> Registration<br> Fee |
| Equity | Common Stock,<br> reserved for<br> issuance pursuant<br> to the Barnwell Industries, Inc. 2018 Equity Incentive Plan, as amended and restated | Other (2) | 800000 | $2.57 | $2056000 | 0.00011020 | $226.57 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  | $2056000 |  | $226.57 |
| Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  |  | N/A |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $226.57 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement on Form S-8 (the "Registration Statement") shall also cover any additional shares of Common Stock of Barnwell
 Industries, Inc. (the "Registrant") as may become available for issuance pursuant to the Barnwell Industries, Inc. 2018 Equity Incentive Plan, as amended and restated (the "Plan") by reason of any stock dividend, stock split, recapitalization
 or other similar transaction effected without the receipt of consideration that results in an increase in the number of the Registrant's outstanding shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The price per share, which is estimated using the average of the high and low prices per share of the Common Stock as reported on the New York Stock Exchange American on February 6, 2023, which date is within five business days prior to
 filing this Registration Statement, is set forth solely for purposes of calculating the filing fee pursuant to Rules 457(c) and (h) under the Securities Act.

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