Zeff Capital trims Butler National (BUKS) stake with 51,975-share sale
Rhea-AI Filing Summary
Zeff Capital, LP, a more than 10% holder of Butler National Corp (BUKS), reported open-market sales totaling 51,975 shares of common stock on July 10, 13 and 14, 2026 at weighted-average prices around $4.41–$4.65 per share, leaving 7,341,337 shares directly owned.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 51,975 shares ($238,624)
Net Sell
3 txns
Insider
Zeff Capital, LP
Role
10% Owner
Sold
51,975 shs ($239K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 36,925 | $4.65 | $172K |
| Sale | Common Stock | 11,050 | $4.46 | $49K |
| Sale | Common Stock | 4,000 | $4.41 | $18K |
Holdings After Transaction:
Common Stock — 7,341,337 shares (Direct)
Footnotes (1)
- In addition to Zeff Capital LP, a Delaware limited partnership ("Zeff Capital"), this Form 4 is being filed jointly by Zeff Holding Company, LLC, a Delaware limited liability company ("Zeff Holding"), and Daniel Zeff, a citizen of the United States of America, each of whom has the same business address as Zeff Capital. (Continued from footnote 1) Zeff Holding, as the general partner of Zeff Capital, may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by Zeff Capital, and may be deemed to be the indirect beneficial owner of such shares. Zeff Holding disclaims beneficial ownership of such shares for all other purposes, except to the extent of its pecuniary interest therein. Mr. Zeff, as the manager of Zeff Holding, may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by Zeff Capital, and may be deemed to be the indirect beneficial owner of such shares. Mr. Zeff disclaims beneficial ownership of such shares for all other purposes, except to the extent of his pecuniary interest therein. This transaction was executed in multiple trades at prices ranging from $4.45 to $4.47 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price. This transaction was executed in multiple trades at prices ranging from $4.55 to $4.75 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.
Key Figures
Aggregate shares sold: 51,975 shares
Shares sold on July 14, 2026: 36,925 shares
Shares sold on July 13, 2026: 11,050 shares
+2 more
5 metrics
Aggregate shares sold
51,975 shares
Total Butler National common shares sold across three open-market transactions
Shares sold on July 14, 2026
36,925 shares
Open-market sale of Butler National common stock at a weighted-average price of $4.6500 per share
Shares sold on July 13, 2026
11,050 shares
Open-market sale of Butler National common stock at a weighted-average price of $4.4600 per share
Shares sold on July 10, 2026
4,000 shares
Open-market sale of Butler National common stock at a price of $4.4100 per share
Holdings after final sale
7,341,337 shares
Direct Butler National common stock holdings of Zeff Capital following the July 14, 2026 transaction
Key Terms
open-market sale, beneficial owner, pecuniary interest, weighted average sale price
4 terms
open-market sale financial
"transaction_action is described as an open-market sale of common stock"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
beneficial owner financial
"may be deemed to be the indirect beneficial owner of such shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
pecuniary interest financial
"disclaims beneficial ownership of such shares for all other purposes, except to the extent of its pecuniary interest"
weighted average sale price financial
"The price reported above reflects the weighted average sale price"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider activity did Zeff Capital report in Butler National (BUKS)?
Zeff Capital reported open-market sales of 51,975 Butler National (BUKS) common shares over three days in July 2026 at prices around $4.41–$4.65 per share, as reflected in a Form 4 filing.
Who else is associated with Zeff Capital’s BUKS holdings according to the Form 4?
The filing states that Zeff Holding Company, LLC and Daniel Zeff may be deemed indirect beneficial owners through their roles with Zeff Capital, but they disclaim beneficial ownership for all other purposes except to the extent of any pecuniary interest.
Were Zeff Capital’s BUKS sales single trades or multiple executions?
For some dates, the Form 4 notes the BUKS sales were executed in multiple trades within ranges of $4.45–$4.47 and $4.55–$4.75 per share, with the reported prices representing weighted-average sale prices for those aggregated transactions.