Barnwell Industries Inc: terminates employees' pension plan

What happened

• On Sep 30, 2026, the board approved the termination of the Barnwell Industries, Inc. Employees’ Pension Plan, effective on or about Nov 30, 2026.
• On Oct 5, 2026, the company issued a press release announcing the termination.
• The plan was amended to provide for the distribution of all benefits through the purchase of irrevocable commitments from one or more annuity providers, and the company stated that, following satisfaction of all plan benefit liabilities, remaining surplus assets are expected to revert to the company, subject to applicable law.

Key details

• Board approval date: Sep 30, 2026; expected effective date: on or about Nov 30, 2026.
• Benefits to be distributed by purchase of irrevocable commitments from one or more annuity providers.
• Company expects any remaining surplus assets to revert to the company after plan liabilities are satisfied, subject to law.
• The filing includes forward-looking statements about timing and expected reversion and lists risks including changes in interest rates, annuity pricing, plan asset performance, regulatory review, and tax requirements.

Why it may matter

• Item 8.01 (Other events) reports the board-approved termination of the employees’ pension plan and related plan amendments addressing benefit distribution and potential reversion of surplus assets.
• Item 7.01 (Regulation FD disclosure) reports that the company issued a press release announcing the termination.
• This filing does not show why the insider traded or why the company acted.