--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-027765" form_type: "8-K" ticker: "BUKS" cik: "0000015847" company_name: "BUTLER NATIONAL CORP" filed_at: "2023-10-05T23:59:59+00:00" generated_at: "2026-06-10T03:58:22.990613+00:00" event_type: "leadership" sentiment: "neutral" materiality_score: 0.6 calibrated_materiality_score: 0.6 confidence: "high" source: SEC EDGAR --- # Butler National boosts CEO, CFO, and VP salaries; director awarded 300k shares ## Summary - Christopher Reedy (CEO) base salary increased to $595,000; Tad McMahon (CFO/Secretary) to $375,000; Joe Peters to $610,000, retroactive to May 1, 2023. - Company discontinues discretionary sales commission for Peters; expects net decrease in his total compensation from $763k in FY2023. - Compensation Committee awarded 300,000 shares to director John Edgar for investor relations work, fully vested on grant date Oct 6, 2023. - Shareholders re-elected directors David Hayden and Joe Peters, ratified RBSM as auditor, and approved annual advisory vote on exec compensation. ## SEC filing metadata - accession: 0001437749-23-027765 - form_type: 8-K - ticker: BUKS - cik: 0000015847 - company_name: BUTLER NATIONAL CORP - filed_at: 2023-10-05T23:59:59+00:00 - event_type: leadership - sentiment: neutral - materiality_score: 0.6 - calibrated_materiality_score: 0.6 - confidence: high - sec_items: 5.02, 5.07, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/15847/000143774923027765/0001437749-23-027765-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/15847/000143774923027765/buks20231005_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-027765 - JSON: https://secwatch.observer/filing/0001437749-23-027765.json - Plain text: https://secwatch.observer/filing/0001437749-23-027765.txt ## Key facts - Shareholder Votes BUTLER NATIONAL CORP shareholders approved Advisory Vote on Frequency of Future Votes on Executive Compensation at the 2023-10-03 meeting. - Proposal: say on pay frequency - Outcome: passed - Meeting: 2023-10-03 source text: 4. Advisory Vote on Frequency of Future Votes on Executive Compensation. An advisory vote on the frequency of holding future advisory votes on executive compensation was submitted to, and voted upon by, the shareholders. Shareholders approved, on an advisory basis, to have votes on executive compensation every year. In light of this advisory vote the Board of Directors has decided to include an advisory vote on executive compensation in its proxy materials every year until the next required vote on the frequency of advisory votes on executive compensation. 1 Year 2 Years 3 Years Abstain 30,804,586 313,956 160,961 362,514 evidence_url: https://www.sec.gov/Archives/edgar/data/15847/000143774923027765/0001437749-23-027765-index.htm - Shareholder Votes BUTLER NATIONAL CORP shareholders approved Ratification of RBSM LLP as Independent Registered Accountant at the 2023-10-03 meeting. - Proposal: auditor ratification - Outcome: passed - Meeting: 2023-10-03 source text: 2. Ratification of RBSM LLP as Independent Registered Accountant. A resolution that the shareholders ratify the selection and appointment of RBSM LLP as the independent registered public accounting firm for Butler National Corporation for the year ending April 30, 2024 was submitted to, and voted upon by, the shareholders. Shareholders ratified the appointment of RBSM LLP to serve as the Company’s independent registered public accounting firm for the 2024 fiscal year. For Against Abstain 56,372,358 627,838 1,558,780 evidence_url: https://www.sec.gov/Archives/edgar/data/15847/000143774923027765/0001437749-23-027765-index.htm - Shareholder Votes BUTLER NATIONAL CORP shareholders approved Election of Directors at the 2023-10-03 meeting. - Proposal: director election - Outcome: passed - Meeting: 2023-10-03 source text: 1. Election of Directors. Two people were nominated by the Board of Directors for election as directors of the Company, to hold office for a three year term expiring at the calendar year 2026 annual meeting of shareholders and until his successor is duly elected and qualified. The nominees were incumbent directors, no other persons were nominated and the nominees were elected. The votes were as follows: Name of Director For Against Abstain Broker Non-Votes David B. Hayden 25,759,707 5,296,700 585,610 26,916,959 Joe A. Peters 25,740,847 5,361,260 539,910 26,916,959 evidence_url: https://www.sec.gov/Archives/edgar/data/15847/000143774923027765/0001437749-23-027765-index.htm - Shareholder Votes BUTLER NATIONAL CORP shareholders approved Advisory Vote on Executive Compensation at the 2023-10-03 meeting. - Proposal: say on pay - Outcome: passed - Meeting: 2023-10-03 source text: 3. Advisory Vote on Executive Compensation. An advisory vote on executive compensation was submitted to, and voted upon by, the shareholders. Shareholders approved, on an advisory basis, the compensation of the Named Executive Officers disclosed in the proxy statement. For Against Abstain Broker Non-Votes 25,177,635 5,900,478 563,904 26,916,959 evidence_url: https://www.sec.gov/Archives/edgar/data/15847/000143774923027765/0001437749-23-027765-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.