Butler National (BUKS) Director Reports 15k-Share Purchase

Rhea-AI Filing Summary

Joseph Patrick Daly, a director and reported >10% owner of Butler National Corp (BUKS), reported a purchase of 15,000 shares on 09/16/2025 at $1.65 per share. After the transaction, Daly directly beneficially owned 4,405,000 shares and indirectly owned 4,330,000 shares through EssigPR, Inc. The Form 4 was signed on 09/18/2025.

Positive

• Insider purchase disclosed: Director Joseph P. Daly purchased 15,000 shares at $1.65 on 09/16/2025.
• Detailed ownership disclosure: Post-transaction beneficial ownership is reported as 4,405,000 direct and 4,330,000 indirect shares (EssigPR, Inc.).
• Form properly signed: The Form 4 includes a dated signature (09/18/2025), indicating completion of required disclosure.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchase of 15,000 BUKS shares by a director signals alignment but is not clearly material to valuation.

The filing shows a small open-market acquisition of 15,000 shares at $1.65 by Joseph P. Daly, who is both a director and a >10% owner. While insider buying can signal confidence, the purchase size relative to reported holdings (millions of shares) is limited. There is no accompanying derivative activity or disposition reported. Impact on investor valuation appears limited absent additional context.

Corporate Governance Expert

TL;DR: Director and >10% owner reported a routine purchase; filing complies with Section 16 disclosure requirements.

The Form 4 discloses the acquisition clearly with transaction date, price, and post-transaction beneficial ownership, and it is signed. Indirect holdings through EssigPR, Inc. are properly identified. No amendments or derivative transactions are reported. From a governance perspective, disclosures are complete and timely based on the form content.

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).

1. Name and Address of Reporting Person^*

Daly Joseph Patrick

(Last) (First) (Middle)

497 CIRCLE FREEWAY

(Street)

CINCINNATI OH 45246

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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

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

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

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
Common Stock	09/16/2025		P		15,000	A	$1.65	4,405,000	D
Common Stock								4,330,000	I	EssigPR, Inc.

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:

	Joseph Patrick Daly	09/18/2025
	** 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.

FAQ

What did Joseph P. Daly report on the BUKS Form 4?

He reported a purchase of 15,000 Butler National Corp (BUKS) shares on 09/16/2025 at $1.65 per share.

How many BUKS shares does Daly beneficially own after the transaction?

The filing shows 4,405,000 shares owned directly and 4,330,000 shares owned indirectly through EssigPR, Inc.

What is Daly's relationship to Butler National (BUKS)?

The Form 4 indicates Daly is a Director and a reported 10%+ owner of the issuer.

When was the Form 4 signed and filed?

The signature block shows Joseph Patrick Daly signed the Form 4 on 09/18/2025.

Were any derivative transactions reported on this Form 4 for BUKS?

No derivative securities or option transactions are reported in Table II of this Form 4.