[Form 4] BUTLER NATIONAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Director Jeffrey David Yowell purchased 7,575 shares of Butler National Corp (BUKS) common stock on 09/23/2025 at $1.65 per share. After the transaction he beneficially owns 73,964 shares. The filing is a Form 4 reporting a non-derivative acquisition by a reporting person who is a director. No derivative transactions, amendments, or additional remarks are included in the document.

Positive

• Director purchase disclosed: 7,575 shares acquired, indicating insider buying by a director.
• Simple, clear disclosure: Transaction is non-derivative and properly reported on Form 4 with signature.

Negative

• None.

Insights

Financial Analyst

Insider buy of 7,575 shares at $1.65 modestly increases director exposure; signals personal conviction but is small relative to public floats.

The director-level purchase is a direct acquisition of common stock, which can be viewed as a positive alignment of interest between management and shareholders. At $1.65 per share for 7,575 shares, the cash outlay is limited, and the filing shows total beneficial ownership of 73,964 shares post-transaction. The transaction does not include derivatives, and no other material disclosures (such as large block purchases or plan-based sales) are present.

Corporate Governance Expert

Routine Form 4 disclosure of a director purchase; procedural compliance is satisfied with no governance concerns disclosed.

The Form 4 is properly signed and dated and reports the reporting person as a director. There are no indications of related-party arrangements, 10b5-1 plans, or amendments. From a governance perspective, the filing reflects standard insider reporting and provides transparency about a modest increase in insider ownership.

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
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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^*

Yowell Jeffrey David

(Last) (First) (Middle)

4108 W. 91ST STREET

(Street)

PRAIRIE VILLAGE KS 66207

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

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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
Butler National Common Stock	09/23/2025		A		7,575	A	$1.65	73,964	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:

Remarks:

	/s/ Jeffrey David Yowell	09/23/2025
	** 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 transaction did the Form 4 for BUKS disclose?

The filing reports a director purchase of 7,575 shares of Butler National Corp at $1.65 per share on 09/23/2025.

Who filed the Form 4 for BUKS?

The Form 4 was filed by Jeffrey David Yowell, identified as a director of Butler National Corp.

How many shares does the reporting person own after the transaction?

The reporting person beneficially owns 73,964 shares following the reported purchase.

Were any derivative securities reported in this Form 4 for BUKS?

No. The filing contains only a non-derivative acquisition of common stock and lists no derivative transactions.

Does the Form 4 show a 10b5-1 plan or amendment?

No. The filing does not indicate a transaction pursuant to a 10b5-1 plan and shows no amendments.