Zeff Capital, LP - 22 Dec 2025 Form 4 Insider Report for BUTLER NATIONAL CORP (BUKS)

Role
10%+ Owner
Signature
Zeff Capital LP, By: /s/ Daniel Zeff, Daniel Zeff Manager
Issuer symbol
BUKS
Transactions as of
22 Dec 2025
Net transactions value
-$332,173
Form type
4
Filing time
29 Dec 2025, 16:32:15 UTC
Previous filing
02 Aug 2023

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Zeff Capital, LP 10%+ Owner C/O ZEFF HOLDING COMPANY, LLC, 405 LEXINGTON AVE, 8TH FL, NEW YORK Zeff Capital LP, By: /s/ Daniel Zeff, Daniel Zeff Manager 29 Dec 2025 0001559603

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BUKS Common Stock Sale $103,850 -33,500 -0.45% $3.10 7,466,500 22 Dec 2025 Direct F1, F2, F3
transaction BUKS Common Stock Sale $1,224 -400 -0.01% $3.06 7,466,100 23 Dec 2025 Direct F2, F3, F4
transaction BUKS Common Stock Sale $227,099 -72,788 -0.97% $3.12 7,393,312 29 Dec 2025 Direct F2, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was executed in multiple trades at prices ranging from $3.10 to $3.16. 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.
F2 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
F3 (Continued from footnote 2) 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.
F4 This transaction was executed in multiple trades at prices ranging from $3.06 to $3.07. 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.
F5 This transaction was executed in multiple trades at prices ranging from $3.09 to $3.18. 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.