Hoffman Bradley Kyle 4
4 · BUTLER NATIONAL CORP · Filed Jan 4, 2011
Insider Transaction Report
Form 4
Hoffman Bradley Kyle
Director
Transactions
- Award
Employee Stock Option (right to buy)
2010-12-31+125,000→ 125,000 totalExercise: $0.49Exp: 2015-12-31→ Common Stock (125,000 underlying)
Footnotes (3)
- [F1]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 common stock at a market price at or above $0.92 on any date between December 31, 2010 and December 31, 2015.
- [F2]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 common stock at a market price at or above $1.41 on any date between December 31, 2010 and December 31, 2015.
- [F3]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 common stock at a market price at or above $1.90 on any date between December 31, 2010 and December 31, 2015.