STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Sep. 30, 2023

Share-based compensation

Summary of the activity in share options

The following table summarizes Barnwell’s equity-classified stock options activity from October 1, 2022 through September 30, 2023:

Options	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at October 1, 2022	615,000	$	3.36
Granted	—	—
Exercised	—	—
Expired/Forfeited	(150,000)	3.33
Outstanding at September 30, 2023	465,000	$	3.37	6.7	$	—
Exercisable at September 30, 2023	310,000	$	3.37	6.7	$	—

Summary of the activity in restricted stock units

The following table summarizes Barnwell’s restricted stock units activity from October 1, 2022 through September 30, 2023:

Restricted Stock Units	Shares	Weighted-Average Grant Date Fair Value
Nonvested at October 1, 2022	—	$	—
Granted	37,312	2.65
Vested (1)	(37,312)	2.65
Forfeited	—	—
Nonvested at September 30, 2023	—	$	—

______________

(1)          The underlying common stock for these vested restricted stock units were not yet issued as of September 30, 2023; in November 2023, the Company issued 9,328 shares of common stock for a portion of these vested restricted stock units.

Summary of cash dividends paid per share of common stock

The following table sets forth the cash dividends paid per share of common stock during fiscal 2023 and 2022.

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
August 23, 2022	September 6, 2022	$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