STOCKHOLDERS' EQUITY

3 Months Ended

Dec. 31, 2024

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

Restricted Stock Units

On October 24, 2024, the Board of Directors of the Company granted a total of 105,820 restricted stock units to the independent directors of the Board as partial payment of director fees for their service as members of the Board. The restricted stock units vest ratably over a three-year period, subject to the director’s continued service through the applicable vesting date.

The following table summarizes Barnwell’s restricted stock unit activity from October 1, 2024 through December 31, 2024:

Restricted Stock Units	Shares	Weighted-Average Grant Date Fair Value
Nonvested at October 1, 2024	110,892	$	2.63
Granted	105,820	1.89
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2024	216,712	$	2.27

Compensation cost for restricted stock unit awards is measured at fair value and is recognized as an expense over the requisite service period. During the three months ended December 31, 2024 and 2023, the Company recognized share-based compensation expense related to restricted stock units of $69,000 and $30,000, respectively. As of December 31, 2024, the total remaining unrecognized compensation cost related to nonvested restricted stock units was $331,000, which is expected to be recognized over the weighted-average remaining requisite service period of 1.7 years.