$BUKS|4May 3, 4:23 PM ET

BUTLER NATIONAL CORP 4

4 · BUTLER NATIONAL CORP · Filed May 3, 2005

Form 4

Period: 2005-04-30

Director

Transactions

Exercise/Conversion
Employee Stock Option (right to buy)
2005-04-30$0.50/sh−93,542$46,771→ 0 total
Exercise: $0.50From: 1998-11-02Exp: 2008-11-02→ Common Stock (93,542 underlying)
Exercise/Conversion
Common Stock
2005-04-30$0.25/sh+75,000$18,750→ 907,225 total
Exercise/Conversion
Common Stock
2005-04-30$0.17/sh+50,000$8,500→ 1,257,225 total
Exercise/Conversion
Common Stock
2005-04-30$0.50/sh+93,542$46,771→ 832,225 total
Exercise/Conversion
Common Stock
2005-04-30$0.09/sh+100,000$9,000→ 1,207,225 total
Exercise/Conversion
Employee Stock Option (right to buy)
2005-04-30$0.09/sh−100,000$9,000→ 0 total
Exercise: $0.09From: 2001-01-02Exp: 2011-01-02→ Common Stock (100,000 underlying)
Exercise/Conversion
Employee Stock Option (right to buy)
2005-04-30$0.17/sh−50,000$8,500→ 0 total
Exercise: $0.17From: 2002-01-02Exp: 2012-01-02→ Common Stock (50,000 underlying)
Exercise/Conversion
Common Stock
2005-04-30$0.06/sh+200,000$12,500→ 1,107,225 total
Exercise/Conversion
Employee Stock Option (right to buy)
2005-04-30$0.25/sh−75,000$18,750→ 0 total
Exercise: $0.25From: 1999-05-04Exp: 2009-05-04→ Common Stock (75,000 underlying)
Exercise/Conversion
Employee Stock Option (right to buy)
2005-04-30$0.06/sh−200,000$12,500→ 0 total
Exercise: $0.06From: 2000-01-05Exp: 2010-01-05→ Common Stock (200,000 underlying)

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