Note 5 - Stock Options and Incentive Plans

12 Months Ended

Apr. 30, 2017

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

5. STOCK OPTIONS AND INCENTIVE PLANS

At

April 30,

201

7

we had

no

outstanding stock options.  There were

7,262,064

outstanding stock options that were issued on

December 31, 2010,

all of which expired on

December 31, 2015

.

In

November 2016,

the shareholders approved and adopted the Butler National Corporation

2016

Equity Incentive Plan. The maximum number of shares of common stock that

may

be issued under the Plan is

12.5

million.

No

equity awards have been made under the plan.