# EDGAR Filing Document

**Accession Number:** 0001461945
**File Stem:** 0000921895-26-001018
**Filing Date:** 2026-4
**Character Count:** 24455
**Document Hash:** fc2ded150261233524c78a1d033e03d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-26-001018.hdr.sgml**: 20260417

**ACCESSION NUMBER**: 0000921895-26-001018

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260417

**DATE AS OF CHANGE**: 20260417

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BARNWELL INDUSTRIES INC
- **CENTRAL INDEX KEY:** 0000010048
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 720496921
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-20279
- **FILM NUMBER:** 26871214

**BUSINESS ADDRESS:**
- **STREET 1:** 24 GREENWAY PLAZA
- **STREET 2:** SUITE 1800Q
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 713-906-5705

**MAIL ADDRESS:**
- **STREET 1:** 24 GREENWAY PLAZA
- **STREET 2:** SUITE 1800Q
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JCP Investment Management, LLC
- **CENTRAL INDEX KEY:** 0001461945

**ORGANIZATION NAME:**
- **EIN:** 264654347
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 1177 WEST LOOP SOUTH
- **STREET 2:** SUITE 1320
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027
- **BUSINESS PHONE:** 713-201-6910

**MAIL ADDRESS:**
- **STREET 1:** 1177 WEST LOOP SOUTH
- **STREET 2:** SUITE 1320
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027

## Ex-1

Exhibit 1

**<u>Transactions in the Securities of the Issuer During the Past 60 Days</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Nature of the Transaction</u> | &nbsp;&nbsp; Securities<br> <u>Purchased/(Sold)</u> | &nbsp;&nbsp; Price Per<br> <u>Security($)</u> | &nbsp;&nbsp; Date of<br> <u>Purchase/Sale</u> |

---

**<u>JCP INVESTMENT PARTNERSHIP, LP</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;6115 | &nbsp;&nbsp;1.1079 | &nbsp;&nbsp;03/23/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;18340 | &nbsp;&nbsp;1.1358 | &nbsp;&nbsp;03/25/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;6617 | &nbsp;&nbsp;1.1500 | &nbsp;&nbsp;03/26/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;100 | &nbsp;&nbsp;1.1500 | &nbsp;&nbsp;03/27/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;184457 | &nbsp;&nbsp;1.1800 | &nbsp;&nbsp;03/30/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;15827 | &nbsp;&nbsp;1.0700 | &nbsp;&nbsp;04/01/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;26270 | &nbsp;&nbsp;1.0958 | &nbsp;&nbsp;04/02/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;26205 | &nbsp;&nbsp;1.1374 | &nbsp;&nbsp;04/06/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;26147 | &nbsp;&nbsp;1.0425 | &nbsp;&nbsp;04/08/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;17804 | &nbsp;&nbsp;1.0514 | &nbsp;&nbsp;04/09/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;4842 | &nbsp;&nbsp;1.0200 | &nbsp;&nbsp;04/14/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;37664 | &nbsp;&nbsp;1.0764 | &nbsp;&nbsp;04/15/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;10400 | &nbsp;&nbsp;1.1060 | &nbsp;&nbsp;04/16/2026 |

---

**<u>JCP INVESTMENT MANAGEMENT, LLC<br> (Through the JCP Accounts)</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;5533 | &nbsp;&nbsp;1.1079 | &nbsp;&nbsp;03/23/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;16561 | &nbsp;&nbsp;1.1358 | &nbsp;&nbsp;03/25/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;5958 | &nbsp;&nbsp;1.1500 | &nbsp;&nbsp;03/26/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;165543 | &nbsp;&nbsp;1.1800 | &nbsp;&nbsp;03/30/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;14335 | &nbsp;&nbsp;1.0700 | &nbsp;&nbsp;04/01/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;23730 | &nbsp;&nbsp;1.0958 | &nbsp;&nbsp;04/02/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;23795 | &nbsp;&nbsp;1.1374 | &nbsp;&nbsp;04/06/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;23853 | &nbsp;&nbsp;1.0425 | &nbsp;&nbsp;04/08/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;16196 | &nbsp;&nbsp;1.0514 | &nbsp;&nbsp;04/09/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;4393 | &nbsp;&nbsp;1.0200 | &nbsp;&nbsp;04/14/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;34262 | &nbsp;&nbsp;1.0764 | &nbsp;&nbsp;04/15/2026 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;9600 | &nbsp;&nbsp;1.1060 | &nbsp;&nbsp;04/16/2026 |

---

## Exhibit 99.1

Exhibit 99.1

**<u>JOINT FILING AGREEMENT</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the Common Stock, $0.50 par value, of Barnwell Industries, Inc. a Delaware corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

---

| | |
|:---|:---|
| JCP Investment Partnership, LP | JCP Investment Partnership, LP |
| By: | /s/ James C. Pappas |
|  | James C. Pappas, Managing Member of JCP Investment Management, LLC, its Investment Manager |
| Date: | 04/17/2026 |

---

---

| | |
|:---|:---|
| JCP Investment Partners, LP | JCP Investment Partners, LP |
| By: | /s/ James C. Pappas |
|  | James C. Pappas, Sole Member of JCP Investment Holdings, LLC, its General Partner |
| Date: | 04/17/2026 |

---

---

| | |
|:---|:---|
| JCP Investment Holdings, LLC | JCP Investment Holdings, LLC |
| By: | /s/ James C. Pappas |
|  | James C. Pappas, Sole Member |
| Date: | 04/17/2026 |

---

---

| | |
|:---|:---|
| JCP Investment Management, LLC | JCP Investment Management, LLC |
| By: | /s/ James C. Pappas |
|  | James C. Pappas, Managing Member |
| Date: | 04/17/2026 |

---

---

| | |
|:---|:---|
| Pappas James C | Pappas James C |
| By: | /s/ James C. Pappas |
|  | James C. Pappas |
| Date: | 04/17/2026 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**BARNWELL INDUSTRIES INC**

*(Name of Issuer)*

**Common Stock, $0.50 par value**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**JAMES C. PAPPAS**<br>JCP INVESTMENT MANAGEMENT, LLC<br>1177 West Loop South, Suite 1320<br>Houston TX 77027<br>713-333-5540

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**04/16/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**JCP Investment Partnership, LP** | Name of reporting person<br>**JCP Investment Partnership, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**380788.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**380788.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**380788.00** | Aggregate amount beneficially owned by each reporting person<br>**380788.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.7%** | Percent of class represented by amount in Row (11)<br>**2.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**JCP Investment Partners, LP** | Name of reporting person<br>**JCP Investment Partners, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**380788.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**380788.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**380788.00** | Aggregate amount beneficially owned by each reporting person<br>**380788.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.7%** | Percent of class represented by amount in Row (11)<br>**2.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**JCP Investment Holdings, LLC** | Name of reporting person<br>**JCP Investment Holdings, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**380788.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**380788.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**380788.00** | Aggregate amount beneficially owned by each reporting person<br>**380788.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.7%** | Percent of class represented by amount in Row (11)<br>**2.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**JCP Investment Management, LLC** | Name of reporting person<br>**JCP Investment Management, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**724547.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**724547.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**724547.00** | Aggregate amount beneficially owned by each reporting person<br>**724547.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.1%** | Percent of class represented by amount in Row (11)<br>**5.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Pappas James C** | Name of reporting person<br>**Pappas James C** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**724547.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**724547.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**724547.00** | Aggregate amount beneficially owned by each reporting person<br>**724547.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.1%** | Percent of class represented by amount in Row (11)<br>**5.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, $0.50 par value

**(b) Name of Issuer:**
BARNWELL INDUSTRIES INC

**(c) Address of Issuer's Principal Executive Offices:**
24 GREENWAY PLAZA, SUITE 1800Q, HOUSTON, TX, 77046

**Item 4. Purpose of Transaction**

The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board of Directors (the "Board") of the Issuer, engaging in discussions with stockholders of the Issuer or third parties, including potential acquirers and service providers, about the Issuer and the Reporting Persons' investment, making proposals to the Issuer concerning changes to the capital allocation strategy, capitalization, ownership structure, including a sale of the Issuer as a whole or in parts, Board structure (including Board composition) or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Shares reported owned by each person named herein is based upon 14,233,259 Shares outstanding as of April 9, 2026, which is the total number of Shares outstanding as reported in the Issuer's Prospectus Supplement filed pursuant to Rule 424(b)(5) with the Securities and Exchange Commission on April 9, 2026.

As of the date hereof, JCP Partnership beneficially owned 380,788 Shares, constituting approximately 2.7% of the Shares outstanding. JCP Partners, as the general partner of JCP Partnership, may be deemed the beneficial owner of the 380,788 Shares owned by JCP Partnership, constituting approximately 2.7% of the Shares outstanding. JCP Holdings, as the general partner of JCP Partners, may be deemed the beneficial owner of the 380,788 Shares owned by JCP Partnership, constituting approximately 2.7% of the Shares outstanding.

As of the date hereof, 343,759 Shares were held in the JCP Accounts, constituting approximately 2.4% of the Shares outstanding. JCP Management, as the investment manager of JCP Partnership and the JCP Accounts, may be deemed the beneficial owner of the (i) 380,788 Shares owned by JCP Partnership and (ii) 343,759 Shares held in the JCP Accounts, constituting approximately 5.1% of the Shares outstanding. Mr. Pappas, as the managing member of JCP Management and sole member of JCP Holdings, may be deemed the beneficial owner of the (i) 380,788 Shares owned by JCP Partnership and (ii) 343,759 Shares held in the JCP Accounts, constituting approximately 5.1% of the Shares outstanding.

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 he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

**(b)**
Each of JCP Partnership, JCP Partners, JCP Holdings, JCP Management and Mr. Pappas may be deemed to share the power to vote and dispose of the Shares owned by JCP Partnership.

Each of JCP Management and Mr. Pappas may be deemed to share the power to vote and dispose of the Shares held in the JCP Accounts.

**(c)**
The transactions in the securities of the Issuer by the Reporting Persons during the past 60 days are set forth in Exhibit 1 and are incorporated herein by reference. All of such transactions were effected in the open market unless otherwise noted therein.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

On April 17, 2026, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to securities of the Issuer, to the extent required by applicable law. A copy of the Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** JCP Investment Partnership, LP

**Signature:** /s/ James C. Pappas

**Name/Title:** James C. Pappas, Managing Member of JCP Investment Management, LLC, its Investment Manager

**Date:** 04/17/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** JCP Investment Partners, LP

**Signature:** /s/ James C. Pappas

**Name/Title:** James C. Pappas, Sole Member of JCP Investment Holdings, LLC, its General Partner

**Date:** 04/17/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** JCP Investment Holdings, LLC

**Signature:** /s/ James C. Pappas

**Name/Title:** James C. Pappas, Sole Member

**Date:** 04/17/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** JCP Investment Management, LLC

**Signature:** /s/ James C. Pappas

**Name/Title:** James C. Pappas, Managing Member

**Date:** 04/17/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Pappas James C

**Signature:** /s/ James C. Pappas

**Name/Title:** James C. Pappas

**Date:** 04/17/2026