---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020646"
form_type: "8-K"
ticker: "BUKS"
cik: "0000015847"
company_name: "BUTLER NATIONAL CORP"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:20:44.112662+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Butler National directors resign; company to redeem ~8% of outstanding stock at $0.739/share

## Summary
- Clark D. Stewart (former CEO) and Craig D. Stewart (former President of Aerospace) resign from board, effective July 28, 2023.
- Each receives a lump-sum severance: Clark $2,667,711; Craig $1,838,972.
- Company redeems 5,889,669 shares total (7.9% of outstanding) at $0.739/share; shares placed in treasury.
- Stock repurchase program increased from $4M to $9M, with ~$2.6M remaining after redemption.
- Board reduced from seven to five directors; no disagreement cited for resignations.

## SEC filing metadata
- accession: 0001437749-23-020646
- form_type: 8-K
- ticker: BUKS
- cik: 0000015847
- company_name: BUTLER NATIONAL CORP
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/15847/000143774923020646/0001437749-23-020646-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/15847/000143774923020646/buks20230721_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020646
- JSON: https://secwatch.observer/filing/0001437749-23-020646.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020646.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.