SEC Form 4 · accession 0000015847-15-000017
BUTLER NATIONAL CORP · BUKS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Clark D Stewart
Officer — President & CEO · Director
Period of report
Apr 30, 2015
Accepted (ET)
May 1, 2015 · 5:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000015847
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Butler National Corporation Common Stock | Apr 30, 2015 | A | 97,500 | $0.16 | A | 1,277,604 | I | By 401(k) |
| Butler National Corporation Common Stock | holding | — | — | — | 20,000 | I | By Spouse | |
| Butler National Corporation Common Stock | holding | — | — | — | 2,195,390 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Butler National Corporation Common StockF1 | $0.49 | holding | — | — | — | — | Dec 31, 2015 | Common Stock | 618,488 | 618,488 | D |
| Butler National Corporation Common StockF2 | $0.49 | holding | — | — | — | — | Dec 31, 2015 | Common Stock | 618,488 | 1,236,976 | D |
| Butler National Corporation Common StockF3 | $0.49 | holding | — | — | — | — | Dec 31, 2015 | Common Stock | 618,488 | 1,855,464 | D |
Explanation of responses
- F11. The option vests upon satisfaction, either simultaneously or separately, of both (a) the date being December 31, 2011 or later and (b) the close of the Company's commons stock at a market price at or above $0.92 on any date between December 31, 2010 and December 31, 2015.
- F22. The option vests upon satisfaction, either simultaneously or separately, of both (a) the date being December 31, 2012 or later and (b) the close of the Company's commons stock at a market price at or above $1.40 on any date between December 31, 2010 and December 31, 2015.
- F33. The option vests upon satisfaction, either simultaneously or separately, of both (a) the date being December 31, 2013 or later and (b) the close of the Company's commons stock at a market price at or above $1.90 on any date between December 31, 2010 and December 31, 2015.