[Form 4] BUTLER NATIONAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Joseph Patrick Daly, a director and 10% owner of Butler National Corp (BUKS), reported acquiring 20,000 shares of the company's common stock on 09/18/2025 at a price of $1.66 per share. The Form 4 shows Mr. Daly's direct beneficial ownership following the transaction as 4,425,000 shares and an additional indirect holding of 4,330,000 shares through EssigPR, Inc. The filing is an individual Form 4 and is signed by Joseph Patrick Daly on 09/19/2025.

Insights

Financial Analyst

TL;DR: Insider bought a small block of shares; ownership remains large and disclosure is routine.

The Form 4 discloses a purchase of 20,000 common shares at $1.66 by Joseph Patrick Daly, who is both a director and a reported 10% owner. The filing shows substantial direct ownership (4,425,000 shares) and substantial indirect ownership (4,330,000 shares via EssigPR, Inc.). This transaction is a routine Section 16 disclosure documenting an insider acquisition and does not include any derivative transactions or amendments.

Corporate Governance Expert

TL;DR: Proper Section 16 reporting of an insider purchase; no governance changes disclosed.

The Form 4 appears complete for the reported transaction: it identifies the reporting person, relationship to the issuer, transaction date, price, and post-transaction beneficial ownership broken out into direct and indirect holdings. There are no resignations, appointments, or related-party governance actions disclosed in this filing.

Insider Trade Summary

Net Buyer: 20,000 shares ($33,200)

Net Buy 2 txns

Insider Daly Joseph Patrick

Role Director, 10% Owner

Bought 20,000 shs ($33K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	20,000	$1.66	$33K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 4,425,000 shares (Direct); Common Stock — 4,330,000 shares (Indirect, EssigPR, Inc.)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 09/19/2025 - 03:40 PM Learn about SEC filing dates

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)
09/18/2025

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	09/18/2025		P		20,000	A	$1.66	4,425,000	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	09/19/2025
	** 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.