STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Sep. 30, 2024

Share-based compensation

Summary of the activity in share options

The following table summarizes Barnwell’s equity-classified stock options activity from October 1, 2023 through September 30, 2024:

Options	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at October 1, 2023	465,000	$	3.37
Granted	—	—
Exercised	—	—
Expired/Forfeited	—	—
Outstanding at September 30, 2024	465,000	$	3.37	5.7	$	—
Exercisable at September 30, 2024	465,000	$	3.37	5.7	$	—

Summary of the activity in restricted stock units

The following table summarizes Barnwell’s restricted stock units activity from October 1, 2023 through September 30, 2024:

Restricted Stock Units	Shares	Weighted-Average Grant Date Fair Value
Nonvested at October 1, 2023	—	$	—
Granted	136,336	2.62
Vested (1)	(25,444)	2.62
Forfeited	—	—
Nonvested at September 30, 2024	110,892	$	2.63

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(1)          The underlying common stock for these vested restricted stock units were not yet issued as of September 30, 2024; in October 2024, the Company issued 25,444 shares of common stock for these vested restricted stock units.

Summary of cash dividends paid per share of common stock

No dividends were declared or paid during the year ended September 30, 2024. The following table sets forth the cash dividends paid per share of common stock during the year ended September 30, 2023.

Record Date	Date of Payment	Dividend Paid
August 24, 2023	September 11, 2023	$0.015
May 25, 2023	June 12, 2023	$0.015
February 23, 2023	March 13, 2023	$0.015
December 27, 2022	January 11, 2023	$0.015

Equity-classified share options

Share-based compensation

Schedule of assumptions used in estimating fair value

The following assumptions were used in estimating the fair value for equity-classified stock options granted in the year ended September 30, 2021:

	> 10% Owner-Employee	Others
Number of shares	60,000	605,000
Expected volatility	127.4%	105.8%
Expected dividends	None	None
Expected term (in years)	3.5	6.0
Risk-free interest rate	0.19%	0.82%
Expected forfeitures	None	None
Fair value per share	$2.51	$2.70