Butler National Corporation Adopts 2025 Annual Cash Bonus Plan and Updates Compensation Arrangements

Butler National Corporation (OTCMKTS:BUKS) recently disclosed changes in its executive compensation arrangements and the adoption of the 2025 Annual Cash Bonus Plan in a filing with the United States Securities and Exchange Commission.

The company’s Compensation Committee approved the 2025 Annual Cash Bonus Plan on January 7, 2025. The plan aims to attract and retain employees, including named executive officers, by offering a competitive cash bonus program based on achieving specific performance goals. Salaried employees of Butler National Corporation and its controlled entities are eligible to earn bonuses determined by the committee based on pre-set Performance Goals.

In conjunction with the new plan, adjustments were made to the annual base salaries and cash bonus targets for two key executives. Christopher J. Reedy, currently the Chief Executive Officer, will see a decrease in his annual base salary to $580,000, with a cash bonus target of $215,000. Joe A. Peters, the President of the company, will also experience a decrease in his base salary to $538,667, with a cash bonus target of $169,000 for 2025.

Additionally, on the same date, the Committee approved restricted stock awards for both Reedy and Peters under the Butler National Corporation 2016 Equity Incentive Plan. The awards are subject to vesting conditions and are scheduled to be fully vested by January 7, 2027.

Further, the Committee entered into Severance Agreements and Change in Control Agreements with both executives. The Severance Agreements provide for severance payments equal to 12 months of base salary in the event of termination without cause, subject to certain conditions. The Change in Control Agreements state that in the event of a “Change of Control,” executives are entitled to specific benefits if their employment is terminated without cause or they resign for “good reason” within two years of the change.

The disclosed information enriches transparency regarding Butler National Corporation’s executive compensation and incentive programs for the year 2025.

The SEC filing includes full details of the 2025 Annual Cash Bonus Plan and the agreements mentioned above, and interested parties can refer to the original filing for complete information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Butler National’s 8K filing here.

Butler National Company Profile

Butler National Corporation, together with its subsidiaries, designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems in North America, Europe, the Middle East, Asia, and internationally.