Butler National Corp: 10% owner Zeff Capital sold 50,103 shares

What happened

• Zeff Capital, LP (10% owner) sold a total of 50,103 shares of Butler National Corp common stock across three transactions. The filing reports sales of 10,303 shares at $4.68 on Oct 13, 2026 for $48,218; 5,000 shares at $4.80 on Oct 14, 2026 for $24,000; and 34,800 shares at $4.72 on Oct 15, 2026 for $164,256, for total proceeds of $236,474.

Key details

• Transaction dates and prices: Oct 13, 2026 (weighted average $4.68; trade prices ranged $4.65–$4.75 per footnote), Oct 14, 2026 (weighted average $4.80; trade prices ranged $4.65–$4.81 per footnote), Oct 15, 2026 (weighted average $4.72).
• Shares owned after the transaction: not specified in the provided filing.
• Footnotes: F1 notes the Form 4 is filed jointly by Zeff Capital, Zeff Holding Company, LLC, and Daniel Zeff; F2 says Zeff Holding (general partner) and Mr. Zeff (manager) may be deemed indirect beneficial owners but disclaim beneficial ownership except to the extent of pecuniary interest; F3 and F4 explain the reported prices are weighted averages of multiple trades and that the reporting person will provide details on request.
• Filing date and timeliness: filing date Oct 15, 2026; period of report Oct 13, 2026. The filing does not indicate a late filing.

Why it may matter

• Zeff Capital is identified as a 10% owner, which the filing categorizes as a large holder rather than an executive.
• The transactions were open-market sales reported as S (sale) transactions.
• This filing does not show why the insider traded or why the company acted.