Posted 12 May, 2023
BUTLER NATIONAL CORP appointed Christopher J. Reedy as new CEO
OTC:BUKS appointed new Chief Executive Officer Christopher J. Reedy in a 8-K filed on 12 May, 2023.
The Board of Directors of the Butler National Corporation (the "Company") appointed Christopher J. Reedy, 57, as President and Chief Executive Officer of the Company on May 10, 2023.
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Overview of BUTLER NATIONAL CORP
Industrial Goods • Aerospace Products/Parts
Butler National Corp. engages in the design, engineering, manufacture, sale, installment, and repair of aerostructures, aircraft components, avionics, accessories, subassembles, and systems. It operates through the Aerospace and Professional Services segments. The Aerospace segment offers aircraft modifications, special mission and regulatory-driven aircraft solutions. It provides systems integration, engineering, manufacturing, installation, service, overhaul and repair of aircraft and aircraft-related products. The Professional Services segment provides professional management services in the gaming industry. It also offers professional architectural, engineering and management support services. The company was founded in 1960 and is headquartered in New Century, KS.Market Cap
$52.2M
View Company Details
$52.2M
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Board of Directors of the Butler National Corporation (the "Company") appointed Christopher J. Reedy, 57, as President and Chief Executive Officer of the Company on May 10, 2023. The Company issued a press release announcing his promotion on May 12, 2023, which is attached hereto as Exhibit 99.1. Mr. Reedy has been employed by the Company for 22 years and most recently served as the Company's Executive Vice President, Chief Operating Officer and Secretary. He previously served as the Company's Vice President and Secretary since 2005. Mr. Reedy's employment is subject to an employment contract with the Company that runs through December 31, 2024, a copy of which was filed as Exhibit 10.2 to the Current Report on Form 8-K filed February 4, 2020. Mr. Reedy's compensation is disclosed in the Company's definitive proxy statement filed with the SEC on August 15, 2022, and no change in his compensation has occurred as a result of his promotion. Other than the employment contract referenced above, there are no other arrangements or understandings between Mr. Reedy and any other person pursuant to which he was appointed as Chief Executive Officer. There are no family relationships between Mr. Reedy and any director or executive officer of the Company and there are no relationships or related transactions between Mr. Reedy and the Company that would be required to be reported pursuant to Item 404(a) of Regulation S-K. Tad M. McMahon, effective May 10, 2023, has been named Secretary of the Company, which is in addition to his duties as Chief Financial Officer. Following Mr. Reedy's promotion, the Board eliminated the position of Chief Operating Officer. Effective May 9, 2023, the employment of Clark D. Stewart with the Company was terminated by Mr. Stewart for good reason. Mr. Stewart remains on the Company's Board of Directors.
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