Sherwood Amends Stake in Barnwell Industries

TL;DR

Sherwood's trusts updated their Barnwell Industries filing on 12/6/24. Watch for changes.

AI Summary

Ned L. Sherwood, through MRMP-MANAGERS LLC and the NED L. SHERWOOD REVOCABLE TRUST, has amended their Schedule 13D filing concerning Barnwell Industries, Inc. on December 6, 2024. The filing indicates a change in beneficial ownership, though specific new holdings or percentage changes are not detailed in this excerpt. Sherwood has been a significant stakeholder in Barnwell Industries, a company involved in crude petroleum and natural gas.

Why It Matters

This amendment signals potential shifts in control or strategy for Barnwell Industries, a player in the energy sector, which could impact its stock performance and future operations.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility and strategic shifts for the company.

Key Numbers

• 20241206 — Filing Date (Date of the amendment filing)

Key Players & Entities

• Ned L. Sherwood (person) — Filing party and beneficial owner
• MRMP-MANAGERS LLC (company) — Group member filing with Sherwood
• NED L. SHERWOOD REVOCABLE TRUST (company) — Group member filing with Sherwood
• BARNWELL INDUSTRIES, INC. (company) — Subject company
• 0001213900-24-106317 (filing_id) — Accession number for the SEC filing

FAQ

Key Financial Figures

• $0.50 — ame of Issuer) Common Stock, par value $0.50 per share (Title of Class of Securiti

Filing Documents

• ea0223919-13da33sher_barn.htm (SC 13D/A) — 56KB
• 0001213900-24-106317.txt ( ) — 58KB

Purpose of Transaction

Item 4. Purpose of Transaction.

is amended and supplemented as follows

Item 4 is amended and supplemented as follows: On January 21, 2023, MRMP-Managers LLC, the Ned L. Sherwood Revocable Trust and Ned L. Sherwood (also referred to as the “Reporting Persons”) entered into a cooperation and support agreement (the “Agreement”) with Alex Kinzler and Barnwell Industries, Inc. (the “Company”). The Agreement expires in early February 2025. The Reporting Persons have made certain proposed amendments to the Agreement and has recently been engaging, and intends to continue engaging, in discussions with the Board of the Company concerning the proposed amendments to the Agreement with the goal of avoiding a proxy contest in connection with the Company’s 2025 annual meeting.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. (a) Mr. Sherwood beneficially owns in the aggregate 3,006,033.138 shares of Common Stock, which represents approximately 29.98% of the Company’s outstanding shares of Common Stock. Each percentage ownership of Common Stock set forth in this Statement is based on the 10,028,090 shares of Common Stock reported by the Company as outstanding as of August 12, 2024 in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 13, 2024. (c) No Reporting Person has effected any transactions in shares of the Issuer’s Common Stock during the last 60 days.

Contracts, Arrangements, Understandings or Relationships

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the Reporting Persons have entered into an agreement with respect to the joint filing of this Statement, which agreement is set forth on the signature page to this Statement. CUSIP No. 068221100 13D Page 6 of 6 Pages SIGNATURE After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this Statement is true, complete and correct. In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of this Statement on Schedule 13D with respect to the Common Stock of the Company. Dated: December 6, 2024 /s/ Ned L. Sherwood NED L. SHERWOOD MRMP-MANAGERS LLC By: /s/ Ned L. Sherwood Name: Ned L. Sherwood Title: Chief Investment Officer NED L. SHERWOOD REVOCABLE TRUST By: /s/ Ned L. Sherwood Name: Ned L. Sherwood Title: Trustee

View Full Filing

View this SC 13D/A filing on SEC EDGAR