---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-040033"
form_type: "8-K"
ticker: "BRN"
cik: "0000010048"
company_name: "BARNWELL INDUSTRIES INC"
filed_at: "2025-10-31T23:59:59+00:00"
generated_at: "2026-05-17T01:03:03.289092+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Barnwell appoints Philip Patman EVP-Finance, Board member; CFO Russell Gifford to retire by year-end 2025

## Summary
- Philip Patman named EVP-Finance on Oct 27, 2025; expected to become CFO after Russell Gifford's retirement.
- Board expanded from 4 to 5 directors; Patman appointed to fill the new seat.
- Patman receives initial equity awards: 83,207 shares, 83,208 RSUs, and 185,000 options at $1.21 strike.
- Base salary set at $315,000; eligible for annual cash bonus (30-100% of base) and performance stock bonus up to $75,000.
- Annual long-term incentive target of $350,000; severance provisions include 50% (regular) or 100% (CIC) of base, bonus, and insurance.

## SEC filing metadata
- accession: 0001140361-25-040033
- form_type: 8-K
- ticker: BRN
- cik: 0000010048
- company_name: BARNWELL INDUSTRIES INC
- filed_at: 2025-10-31T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10048/000114036125040033/0001140361-25-040033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10048/000114036125040033/ef20058116_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-040033
- JSON: https://secwatch.observer/filing/0001140361-25-040033.json
- Plain text: https://secwatch.observer/filing/0001140361-25-040033.txt

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