secwatch.observer — SEC 8-K summary
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Issuer:     BUTLER NATIONAL CORP (BUKS)
CIK:        0000015847
Form:       8-K
Filed at:   2025-01-08T23:59:59+00:00
Accession:  0001437749-25-000724
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Butler National reduces CEO and CFO base salaries; grants restricted stock and severance agreements
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- CEO Reedy base salary decreased from $595K to $580K; CFO Peters from $610K to $538,667.
- Cash bonus targets set at $215K (Reedy) and $169K (Peters), tied to revenue, operating income, and non-financial goals.
- Restricted stock awards: $135K for Reedy, $15K for Peters; fully vest by January 7, 2027.
- Severance agreements provide 12 months base salary for termination without cause; change-in-control agreements pay 2x highest compensation plus benefits.
- 2025 Annual Cash Bonus Plan adopted for all salaried employees; performance goals include revenue and operating income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/15847/000143774925000724/0001437749-25-000724-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/15847/000143774925000724/buks20250108_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-000724

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