secwatch.observer — SEC 8-K summary
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Issuer:     BUTLER NATIONAL CORP (BUKS)
CIK:        0000015847
Form:       8-K
Filed at:   2022-06-22T23:59:59+00:00
Accession:  0001437749-22-015591
Event type: leadership
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/15847/000143774922015591/0001437749-22-015591-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/15847/000143774922015591/buks20220622_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-015591

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