Barnwell (BRN) director-linked fund adds 4,433 common shares

Rhea-AI Filing Summary

Barnwell Industries director-associated fund reported a small open-market share purchase. Palm Global Small Cap Master Fund LP, an entity linked to director Joshua Horowitz, bought 4,433 shares of Barnwell Industries common stock at $1.05 per share. After this indirect purchase, Palm Global Small Cap Master Fund LP held 319,709 shares. Separately, Horowitz was shown with direct ownership of 202,221 shares, which includes 77,878 unvested restricted stock units.

Insider Trade Summary

Net Buyer: 4,433 shares ($4,655)

Net Buy 2 txns

Insider Horowitz Joshua

Role Director

Bought 4,433 shs ($5K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	4,433	$1.05	$5K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 319,709 shares (Indirect, By Palm Global Small Cap Master Fund LP); Common Stock — 202,221 shares (Direct)

Footnotes (1)

1. Palm Management (US) LLC, as the investment manager of Palm Global Small Cap Master Fund LP ("Palm Global"), may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Due to his positions as a portfolio manager and special limited partner of Palm Global and as an employee of Palm Management (US) LLC, Mr. Horowitz may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Palm Management (US) LLC and Mr. Horowitz expressly disclaim such beneficial ownership except to the extent of their pecuniary interest therein. Includes 77,878 unvested restricted stock units.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Horowitz Joshua

(Last) (First) (Middle)

C/O PALM MANAGEMENT (US) LLC

19 WEST ELM STREET

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BARNWELL INDUSTRIES INC [ BRN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/26/2026		P		4,433	A	$1.05	319,709	I	By Palm Global Small Cap Master Fund LP(1)
Common Stock								202,221(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Palm Management (US) LLC, as the investment manager of Palm Global Small Cap Master Fund LP ("Palm Global"), may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Due to his positions as a portfolio manager and special limited partner of Palm Global and as an employee of Palm Management (US) LLC, Mr. Horowitz may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Palm Management (US) LLC and Mr. Horowitz expressly disclaim such beneficial ownership except to the extent of their pecuniary interest therein.

2. Includes 77,878 unvested restricted stock units.

	/s/ Joshua Horowitz	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Barnwell Industries (BRN) report in this Form 4?

Barnwell Industries reported that Palm Global Small Cap Master Fund LP, associated with director Joshua Horowitz, bought 4,433 common shares. The open-market purchase was executed at $1.05 per share, increasing the fund’s indirect holdings to 319,709 shares after the transaction.

Who actually purchased the Barnwell Industries (BRN) shares in this filing?

The 4,433 Barnwell Industries shares were purchased by Palm Global Small Cap Master Fund LP, not Joshua Horowitz personally. The fund is managed by Palm Management (US) LLC, and Horowitz may be deemed a beneficial owner through his roles, subject to the disclosed ownership disclaimer.

At what price were the Barnwell Industries (BRN) shares bought and how many?

Palm Global Small Cap Master Fund LP bought 4,433 Barnwell Industries common shares at $1.05 per share. This transaction was classified as an open-market purchase, increasing the fund’s reported indirect position to a total of 319,709 shares following the trade.

What are Joshua Horowitz’s direct and indirect holdings in Barnwell Industries (BRN)?

Following the reported transaction, indirect holdings via Palm Global Small Cap Master Fund LP totaled 319,709 shares. Separately, Joshua Horowitz’s direct ownership was reported as 202,221 shares, and this direct figure includes 77,878 unvested restricted stock units granted to him.

Does Joshua Horowitz fully own the Barnwell Industries (BRN) shares held by Palm Global?

The filing states Joshua Horowitz and Palm Management (US) LLC may be deemed beneficial owners of shares held by Palm Global. However, they expressly disclaim beneficial ownership of those Barnwell Industries shares except to the extent of their pecuniary interest in the position.