RELATED-PARTY TRANSACTIONS

12 Months Ended

Apr. 30, 2016

RELATED-PARTY TRANSACTIONS [Abstract]

RELATED-PARTY TRANSACTIONS

8.RELATED-PARTY TRANSACTIONS:

In the normal course of business we purchased business system components of $3 and $4 from ISG, the employer of Bradley Hoffman, a director of Butler National Corporation during fiscal 2016 and 2015 respectively.

We paid consulting fees of $135 and $135 to David Hayden, a director of Butler National Corporation in fiscal year ended April 30, 2016 and 2015 respectively.

Included in accrued liabilities are $301 and $209 as of April 30, 2016 and 2015 respectively for amounts owed to our CEO for accrued compensation.

Included in other assets at April 30, 2016 and 2015 is $780 owed to us by the noncontrolling company of BHCMC, LLC for costs incurred on their behalf.

In fiscal 2016, there were three related-person transactions under the relevant standards: Butler National employed the brother (Wayne Stewart), son (Craig Stewart) and son-in-law (Jeff Shinkle) of Clark D. Stewart, an executive officer, as an engineer, Vice President and Chief Financial Officer, and an architect. Compensation for these related-persons was calculated in the same manner as the Summary Compensation table resulting in compensation of $225, $292 and $188, respectively, for fiscal 2016 and $219, $286, and $179, respectively, for fiscal 2015.

The policies and procedures for payment of goods and services for related transactions follow our normal course of business standards and require the necessary review and approval process as outlined in our Policies and Procedures manual and as set forth by our Compensation Committee.