Butler National adopts director age 75 limit; Hayden retires; Reedy comp restructured

BUTLER NATIONAL CORP

Director David B. Hayden retired July 11, 2025; Board reduced to 5 members.
Julie M. Bowen appointed Audit Committee Chair; qualifies as Audit Committee Financial Expert.
CEO Reedy's base salary cut to $565k from $580k; bonus target raised to $235k; $135k restricted stock awarded.
New severance (12 months base salary) and change-in-control (1.5x highest comp) agreements with Reedy.
Board adopted governance guidelines mandating director retirement at age 75; other governance improvements.

item 5.02item 9.01

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