Zeff Capital, LP 4
4 · BUTLER NATIONAL CORP · Filed Jul 14, 2026
Research Summary
AI-generated summary of this filing
Butler National (BUKS) 10% Owner Zeff Capital Sells Shares
What Happened Zeff Capital, LP — disclosed as a 10% owner of Butler National Corp. (BUKS) — sold a total of 51,975 common shares in open-market transactions between July 10 and July 14, 2026. The individual trades reported were: 4,000 shares on 2026-07-10 at $4.41 ($17,640); 11,050 shares on 2026-07-13 at $4.46 ($49,283); and 36,925 shares on 2026-07-14 at a weighted average price of $4.65 ($171,701). Combined proceeds across the three days were approximately $238,624. These were sales (not purchases or option exercises).
Key Details
- Transaction dates and reported prices:
- 2026-07-10: 4,000 shares sold @ $4.41 (=$17,640)
- 2026-07-13: 11,050 shares sold @ $4.46 (=$49,283)
- 2026-07-14: 36,925 shares sold @ weighted avg $4.65 (=$171,701)
- Total shares sold: 51,975; total proceeds: ~$238,624.
- Shares owned after transaction: Not specified in the provided excerpt of the Form 4; see the full filing for post-transaction holdings.
- Footnotes of note:
- F1/F2: The Form 4 is jointly filed by Zeff Capital, Zeff Holding Company, LLC (general partner), and Daniel Zeff (manager). Zeff Holding and Mr. Zeff may be deemed indirect beneficial owners but disclaim beneficial ownership except for pecuniary interest.
- F3/F4: Some trades were executed in multiple lots at varying prices; reported prices for the July 13 and July 14 entries are weighted averages. The filer offers to provide the per-lot breakdown on request.
- Filing timeliness: The Form 4 was filed on July 14, 2026. Given the trade dates, the filing falls within the SEC’s two-business-day window for these transactions.
Context
- This filing reports open-market sales by a 10% institutional owner rather than an executive’s compensation-related action. Sales by large holders can be routine portfolio management and do not, by themselves, signal management sentiment. No option exercises, gifts, or tax-withholding events are reported in the provided details.
Insider Transaction Report
Form 4
Zeff Capital, LP
10% Owner
Transactions
- Sale
Common Stock
[F1][F2]2026-07-10$4.41/sh−4,000$17,640→ 7,389,312 total - Sale
Common Stock
[F3][F1][F2]2026-07-13$4.46/sh−11,050$49,283→ 7,378,262 total - Sale
Common Stock
[F4][F1][F2]2026-07-14$4.65/sh−36,925$171,701→ 7,341,337 total
Footnotes (4)
- [F1]In addition to Zeff Capital LP, a Delaware limited partnership ("Zeff Capital"), this Form 4 is being filed jointly by Zeff Holding Company, LLC, a Delaware limited liability company ("Zeff Holding"), and Daniel Zeff, a citizen of the United States of America, each of whom has the same business address as Zeff Capital.
- [F2](Continued from footnote 1) Zeff Holding, as the general partner of Zeff Capital, may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by Zeff Capital, and may be deemed to be the indirect beneficial owner of such shares. Zeff Holding disclaims beneficial ownership of such shares for all other purposes, except to the extent of its pecuniary interest therein. Mr. Zeff, as the manager of Zeff Holding, may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by Zeff Capital, and may be deemed to be the indirect beneficial owner of such shares. Mr. Zeff disclaims beneficial ownership of such shares for all other purposes, except to the extent of his pecuniary interest therein.
- [F3]This transaction was executed in multiple trades at prices ranging from $4.45 to $4.47 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.
- [F4]This transaction was executed in multiple trades at prices ranging from $4.55 to $4.75 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.