Butler National (BUKS) CFO granted 20,222 restricted shares with tax withholding

Rhea-AI Filing Summary

Butler National Corp Chief Financial Officer Adam Brett Sefchick received an award of 20,222 shares of restricted common stock on July 22, 2026. Of these, 6,740 shares vested immediately; the remaining 13,482 vest in two equal annual installments, and 1,978 shares were withheld to satisfy tax obligations at $4.945 per share.

Insider Trade Summary

Net Buyer: 18,244 shares

Net Buy 2 txns

Insider Sefchick Adam Brett

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Butler National Common Stock	20,222	$4.945	$100K
Tax Withholding	Butler National Common Stock F1	1,978	$4.945	$10K

Holdings After Transaction: Butler National Common Stock — 64,323 shares (Direct)

Footnotes (1)

1. F1. Represents an award of 20,222 shares of restricted common stock. Of these shares, 6,740 vested immediately on the grant date. The remaining 13,482 shares vest in two equal installments of 6,741 shares on the first and second anniversaries of the grant date, subject to continued service. Shares reported as disposed of under Transaction Code F were withheld by the issuer solely to satisfy the reporting person's tax withholding obligations arising from the immediate vesting of 6,740 shares.

Key Figures

Restricted stock award: 20,222 shares Immediate vesting portion: 6,740 shares Unvested balance: 13,482 shares +3 more

6 metrics

Restricted stock award 20,222 shares Award of restricted common stock to CFO on July 22, 2026

Immediate vesting portion 6,740 shares Shares that vested immediately on the grant date

Unvested balance 13,482 shares Restricted shares vesting over the next two years

Annual vesting installments 6,741 shares Each of two equal installments on first and second anniversaries

Shares withheld for taxes 1,978 shares Shares withheld to satisfy tax withholding obligations on vested shares

Reference share price $4.945 per share Price used for the award and tax-withholding disposition

Key Terms

restricted common stock, vested, tax withholding obligations, anniversaries of the grant date

4 terms

restricted common stock financial

"Represents an award of 20,222 shares of restricted common stock."

Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.

vested financial

"Of these shares, 6,740 vested immediately on the grant date."

tax withholding obligations financial

"withheld by the issuer solely to satisfy the reporting person's tax withholding obligations"

anniversaries of the grant date financial

"vest in two equal installments ... on the first and second anniversaries of the grant date"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/24/2026 - 04:58 PM Accepted by SEC EDGAR 07/24/2026 - 04:58 PM Learn about SEC filing dates

FAQ

What equity award did Butler National (BUKS) CFO Adam Brett Sefchick receive?

Adam Brett Sefchick received an award of 20,222 shares of Butler National restricted common stock. A portion vested immediately, while the balance will vest over the next two years, aligning his compensation with continued service at the company.

How is the Butler National (BUKS) CFO’s restricted stock award vesting structured?

Of the 20,222 restricted shares, 6,740 vested immediately on the grant date. The remaining 13,482 shares vest in two equal installments of 6,741 shares on the first and second anniversaries of the grant date, subject to continued service.

Why were 1,978 Butler National (BUKS) shares reported as disposed on this Form 4?

The 1,978 shares reported as disposed under transaction code F were withheld by Butler National solely to cover the CFO’s tax withholding obligations arising from the immediate vesting of 6,740 shares, rather than being sold in the open market.

What was the reference price for the Butler National (BUKS) Form 4 transactions?

Both the award and tax-withholding disposition reference a price of $4.945 per share for Butler National common stock. This price is used in the filing to value the equity grant and the shares withheld to satisfy the executive’s associated tax liabilities.

Does this Butler National (BUKS) Form 4 reflect a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked, and the only disposition reported involves shares withheld for tax obligations tied to vesting. The disclosure does not describe these transactions as executed under a pre-arranged Rule 10b5-1 trading plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sefchick Adam Brett

(Last) (First) (Middle)

ONE AERO PLAZA

(Street)

NEW CENTURY KANSAS 66031

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BUTLER NATIONAL CORP [ BUKS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Butler National Common Stock	07/22/2026		A		20,222	A	$4.945	66,301	D
Butler National Common Stock	07/22/2026		F(1)		1,978	D	$4.945	64,323	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents an award of 20,222 shares of restricted common stock. Of these shares, 6,740 vested immediately on the grant date. The remaining 13,482 shares vest in two equal installments of 6,741 shares on the first and second anniversaries of the grant date, subject to continued service. Shares reported as disposed of under Transaction Code F were withheld by the issuer solely to satisfy the reporting person's tax withholding obligations arising from the immediate vesting of 6,740 shares.

Remarks:

	/s/ Adam Sefchick	07/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)