Note 6 - Stock Options and Incentive Plans

12 Months Ended

Apr. 30, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

6. STOCK OPTIONS AND INCENTIVE PLANS

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.

On

April 12, 2019,

the Company granted

2.5

million restricted shares to employees. These shares have voting rights at date of grant and become fully vested and nonforfeitable on

April 11, 2024.

The restricted shares were valued at

$0.38

per share, for a total of

$950.

The deferral compensation of

$950

will be expensed on the financial statements over the

five

year vesting period.

No

other equity awards have been made under the plan.