BUTLER NATIONAL CORP 8-K

What Happened
Butler National Corporation announced on June 15, 2026 that Christopher J. Reedy is retiring as the company’s Chief Executive Officer effective immediately. Mr. Reedy will stay employed in a non-executive transition role as special advisor to the Board through his planned Retirement Date of July 1, 2027, and will remain a director. The company and Mr. Reedy entered into a Transition and Release Agreement under which he will continue to receive his base salary and previously granted equity awards will continue to vest through the Retirement Date.

Key Details

• Christopher J. Reedy retired as CEO effective June 15, 2026 and will serve as special advisor to the Board until July 1, 2027.
• Transition Agreement (filed as Exhibit 10.1) provides for continued base salary and continued vesting of previously granted equity awards through the Retirement Date, and includes a customary release of claims.
• Adam B. Sefchick (age 48), Butler’s Chief Financial Officer since May 2025, was appointed Interim Chief Executive Officer and President effective June 15, 2026; he will continue to serve as CFO and will be the company’s principal executive officer and principal financial officer.
• Mr. Sefchick’s background: CPA with 20+ years in accounting/finance (prior roles include Chief Accounting Officer at Jack Cooper Investments and Audit Senior Manager at Grant Thornton). Any change to his compensation in connection with this transition has not yet been finalized. The company reported no related-person transactions or family relationships requiring disclosure.

Why It Matters
This filing documents a material leadership transition: the CEO role is changing immediately while the outgoing CEO remains on the Board and in an advisory capacity through mid-2027. For investors, key items to watch are any future disclosures about a permanent CEO selection, final terms of Mr. Sefchick’s compensation, and any additional executive or strategic changes tied to the transition. The Transition Agreement preserves Mr. Reedy’s salary and equity vesting through the transition period, which may affect near-term executive compensation reporting.