---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-002894"
form_type: "8-K"
ticker: "BRN"
cik: "0000010048"
company_name: "BARNWELL INDUSTRIES INC"
filed_at: "2023-01-26T23:59:59+00:00"
generated_at: "2026-06-20T07:41:00.596986+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Barnwell settles proxy fight, adds two directors, adopts standstill with MRMP stockholders

## Summary
- Appointed Joshua Horowitz and Laurance Narbut to the Board; they are independent under NYSE rules.
- Company will nominate Kinzler, Grossman, Woodrum, Horowitz, and Narbut for election at 2023 and 2024 annual meetings.
- MRMP stockholders agreed to standstill until ten business days before 2025 nomination deadline; ownership capped at 28% then 30%.
- Board elected Kenneth Grossman as Chairman on January 21, 2023.
- Company will terminate its Tax Benefits Preservation Plan and reimburse MRMP stockholders' reasonable expenses.

## SEC filing metadata
- accession: 0001140361-23-002894
- form_type: 8-K
- ticker: BRN
- cik: 0000010048
- company_name: BARNWELL INDUSTRIES INC
- filed_at: 2023-01-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10048/000114036123002894/0001140361-23-002894-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10048/000114036123002894/brhc10047061_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-002894
- JSON: https://secwatch.observer/filing/0001140361-23-002894.json
- Plain text: https://secwatch.observer/filing/0001140361-23-002894.txt

## Key facts
- Material Agreements
  BARNWELL INDUSTRIES INC entered into Cooperation and Support Binding Term Sheet with Alexander C. Kinzler, MRMP-Managers LLC, the Ned L. Sherwood Revocable Trust, NLS Advisory Group, Inc. and Ned L. Sherwood (effective 2023-01-21).
  - Action: entry
  - Counterparty: Alexander C. Kinzler, MRMP-Managers LLC, the Ned L. Sherwood Revocable Trust, NLS Advisory Group, Inc. and Ned L. Sherwood
  - Effective: 2023-01-21
  source text: On January 21, 2023, Barnwell Industries, Inc. (“Barnwell” or the “Company”) entered into a Cooperation and Support Binding Term Sheet (the “Cooperation Agreement”) with Alexander C. Kinzler, MRMP-Managers LLC, the Ned L. Sherwood Revocable Trust, NLS Advisory Group, Inc. and Ned L. Sherwood (collectively, the “MRMP Stockholders”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/10048/000114036123002894/0001140361-23-002894-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.