Note 14 - Related-party Transactions

12 Months Ended

Apr. 30, 2023

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

14. RELATED-PARTY TRANSACTIONS:

The Company paid consulting fees of $135 and $135 to David Hayden, a director of Butler National Corporation in fiscal year ended April 30, 2023 and 2022 respectively.

The Company paid Edgar Law Firm, LLC, owned by John M. Edgar, a director of Butler National Corporation $113 and $214 in fiscal year ended  April 30, 2023 and 2022 respectively.

Included in accrued liabilities are $244 and $482 as of April 30, 2023 and 2022, respectively, for amounts owed to Clark D. Stewart, former director and CEO, for accrued compensation.

In fiscal 2023, there were three related-person transactions under the relevant standards: Butler National employed the brother (Wayne Stewart as an engineer), son (Craig Stewart as a Vice President) and son-in-law (Jeff Shinkle as an architect) of Clark D. Stewart, former director and CEO. Compensation for these related-persons was calculated in the same manner as the Summary Compensation table shown in the most recent Proxy Statement resulting in compensation of $303, $331 and $254 respectively, for fiscal 2023 and $292, $484 and $247, respectively, for fiscal 2022.

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.