Wed, Aug 28, 9:28 PM (139 days ago)
Butler National Corporation's 10-K/A amendment for the fiscal year ending April 30, 2024, primarily updates information previously omitted regarding directors, executive officers, and corporate governance. Financial highlights include a market value of approximately $39,408,269 and outstanding shares of 68,770,856. The amendment does not alter any financial data or performance metrics from the original filing. Key personnel changes include the appointment of Jeffrey D. Yowell as Lead Independent Director and Christopher J. Reedy as Chairman of the Board. Compensation for executives remains aligned with performance, although no equity awards were granted in fiscal years 2023 or 2024. The executive compensation structure emphasizes a pay-for-performance philosophy, with a focus on retaining talent. The Company faces risks typical for its industry, and the Board maintains oversight through various committees. The Audit Committee's independence is noted, although it lacks a designated financial expert. The amendment also references consulting fees paid to directors and legal services provided by firms associated with board members. Overall, the Company maintains a commitment to corporate governance and transparency while preparing for future growth.