{"url_path":"/sec/buks/8-k/2026-06-15/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-15","source_url":"https://www.sec.gov/Archives/edgar/data/15847/0000015847-26-000013-index.html","accession_number":"0000015847-26-000013","cik":"0000015847","ticker":"BUKS","issuer_name":"BUTLER NATIONAL CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/15847/0000015847-26-000013-index.html","primary_entity_key":"0000015847","primary_entity_name":"BUTLER NATIONAL CORP"},"word_count":425,"has_tables":true,"body_markdown":"Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers\n\nRetirement of Christopher J. Reedy as Chief Executive Officer\n\nOn June 15, 2026, Butler National Corporation (the “Company”) announced that Christopher J. Reedy, will retire as the Company’s Chief Executive Officer, effective immediately. Mr. Reedy will continue to be employed by the Company in a non-executive officer transition role as special advisor to the Board until he retires from the Company, effective July 1, 2027 (the “Retirement Date”). Mr. Reedy will remain on the Company’s Board of Directors.\n\nIn connection with his retirement, the Company and Mr. Reedy entered into a Transition and Release Agreement (the “Transition Agreement”), pursuant to which until his Retirement Date, Mr. Reedy will continue to receive his base salary and previously granted equity awards will continue to vest. The Transition Agreement also provides for a customary release of claims by Mr. Reedy. A copy of the Transition Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K.\n\nAppointment of Interim Chief Executive Officer\n\nEffective June 15, 2026, the Board of Directors appointed Adam B. Sefchick, as Interim Chief Executive Officer and President. Mr. Sefchick will continue to serve as Chief Financial Officer, and in such capacities will serve as the Company’s principal executive officer and principal financial officer.\n\nMr. Sefchick, age 48, has served as the Company’s Chief Financial Officer since May 2025. Mr. Sefchick is a Certified Public Accountant with over 20 years of accounting and financial analysis experience, has provided financial reporting and accounting services to public and private companies. Prior to working with the Company, Mr. Sefchick served as Chief Accounting Officer during his employment at Jack Cooper Investments, Inc. (2015-2025), Controller at SmartVet Holdings, Inc. (2014-2015) and Audit Senior Manager (2002-2014) at Grant Thornton. Mr. Sefchick has a Bachelor of Science degree in Business Administration/Accounting and a Master of Science in Business and Information Systems from the University of Kansas.\n\nThe change to Mr. Sefchick’s compensation in connection with the executive transition has not yet been finalized at the time of this filing.\n\nThere is no arrangement or understanding between Mr. Sefchick and any other person pursuant to which he is being appointed as Interim Chief Executive Officer. There are no family relationships between Mr. Sefchick and any director or executive officer of the Company and there are no relationships or related person transactions between Mr. Sefchick and the Company that would be required to be reported pursuant to Item 404(a) of Regulation S-K."}