Butler National director granted 3,197 shares

Director Michael Anthony Loh received an equity award in Butler National common stock, increasing his direct holdings.

Rhea-AI Filing Summary

BUTLER NATIONAL CORP (BUKS) director Michael Anthony Loh reported a grant or award acquisition of 3,197 shares of Butler National Common Stock on September 21, 2026, at $3.91 per share. After this award, he directly holds 157,326 shares of the company’s common stock, and no Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 3,197 shares

Grant/Award 1 txn

Insider Loh Michael Anthony

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Butler National Common Stock	3,197	$3.91	$13K

Holdings After Transaction: Butler National Common Stock — 157,326 shares (Direct)

Key Figures

Shares acquired: 3,197 shares Recorded price per share: $3.91 per share Shares owned after transaction: 157,326 shares

3 metrics

Shares acquired 3,197 shares Grant or award of Butler National Common Stock on September 21, 2026

Recorded price per share $3.91 per share Equity award to director Michael Anthony Loh

Shares owned after transaction 157,326 shares Director’s direct holdings following the September 21, 2026 award

Key Terms

Grant, award, or other acquisition, Butler National Common Stock, Rule 10b5-1

3 terms

Grant, award, or other acquisition financial

"The transaction is classified as a grant, award, or other acquisition of shares"

Butler National Common Stock financial

"The security title reported is Butler National Common Stock"

Rule 10b5-1 regulatory

"The filing’s Rule 10b5-1 checkbox is unchecked for this transaction"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did BUKS director Michael Anthony Loh report?

Michael Anthony Loh reported a grant or award acquisition of 3,197 shares of Butler National Common Stock on September 21, 2026, increasing his direct ownership to 157,326 shares.

At what price was the Butler National (BUKS) equity award to Michael Anthony Loh recorded?

The equity award to Michael Anthony Loh was recorded at $3.91 per share for the 3,197 shares of Butler National Common Stock granted on September 21, 2026.

How many Butler National (BUKS) shares does Michael Anthony Loh own after this Form 4 transaction?

After this transaction, Michael Anthony Loh directly owns 157,326 shares of Butler National Common Stock, as reported in the Form 4 filing.

Was Michael Anthony Loh’s Butler National (BUKS) equity transaction under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is unchecked, and no footnote indicates that the September 21, 2026 equity grant was made under a Rule 10b5-1 trading plan.

What type of security did Michael Anthony Loh acquire in Butler National (BUKS)?

Michael Anthony Loh acquired Butler National Common Stock, receiving a grant or award of 3,197 non-derivative shares as reported in the Form 4.

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

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Available on EDGAR 09/21/2026 - 05:30 PM Accepted by SEC EDGAR 09/21/2026 - 05:30 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).

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^*

Loh Michael Anthony

(Last) (First) (Middle)

2655 HUNTSFORD PLACE

(Street)

HIGHLANDS RANCH COLORADO 80126

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/21/2026

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	09/21/2026		A		3,197	A	$3.91	157,326	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/ Michael A. Loh	09/21/2026
	** 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)