secwatch.observer — SEC 8-K summary
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Issuer:     BUTLER NATIONAL CORP (BUKS)
CIK:        0000015847
Form:       8-K
Filed at:   2025-07-17T23:59:59+00:00
Accession:  0001628280-25-035211
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/15847/000162828025035211/0001628280-25-035211-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/15847/000162828025035211/buks-20250717.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-035211

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