secwatch.observer — SEC 8-K summary
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Issuer:     BUTLER NATIONAL CORP (BUKS)
CIK:        0000015847
Form:       8-K
Filed at:   2026-07-24T20:51:05+00:00
Accession:  0000015847-26-000024
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Butler National boosts CFO/Interim CEO Sefchick's pay, grants stock, signs severance/CIC
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- Base salary raised to $302k (from $290k); bonus target increased to $70k (max $110k) for FY2027.
- Restricted stock grant of 20,222 shares ($100k) vests 1/3 immediately, 1/3 each on 1st and 2nd anniversaries.
- Interim CEO duties earn additional $10k/month; $25k bonus for onboarding new CEO; discretionary bonus up to $90k.
- Severance agreement provides 12 months base salary if terminated without cause, subject to release and restrictive covenants.
- Change-in-control agreement: 1.5x highest compensation (salary+bonus) lump sum, plus 2 years benefits continuation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/15847/000001584726000024/0000015847-26-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/15847/000001584726000024/buks-20260722.htm
  HTML page:      https://secwatch.observer/filing/0000015847-26-000024

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer