Butler National appoints insider Aric Peters as Class II director; discloses employment terms

BUTLER NATIONAL CORP

Joe Aric Peters appointed Class II director for term expiring at 2023 annual meeting; not independent.
Peters serves as Director of Sales under employment agreement with base salary of $296,067 for 2022, increasing 5% annually.
Employment agreement runs through Dec 31, 2024, auto-renews for 3-year periods; includes severance for termination without cause or change-in-control.
Peters received total compensation of $711,000 (FY2022) and $788,000 (FY2021); no additional director compensation.
Employment agreement includes non-compete, non-solicitation, and confidentiality provisions.

item 5.02 item 9.01

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Appointed

Joe Aric Peters

Class II director

BUKS · BUTLER NATIONAL CORP

Effective: 2022-06-15
Filed: June 22, 2022, 7:59 PM ET

On June 15, 2022, the Board of Directors of Butler National Corporation, a Kansas corporation (the “Company”), appointed Joe Aric Peters (hereafter “Aric Peters” or “Mr. Peters”) as a Class II director of the Company for a term expiring at the 2023 annual meeting of stockholders.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Joe Aric Peters was appointed as Class II director at BUTLER NATIONAL CORP.

Action: appointed
Role: Class II director

Exact text from the filing

On June 15, 2022, the Board of Directors of Butler National Corporation, a Kansas corporation (the “Company”), appointed Joe Aric Peters (hereafter “Aric Peters” or “Mr. Peters”) as a Class II director of the Company for a term expiring at the 2023 annual meeting of stockholders.

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BUTLER NATIONAL CORP filing history →

Source: SEC EDGAR

accession 0001437749-22-015591

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