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STOCKHOLDERS' EQUITY AND INCENTIVE PLANS
 12 Months Ended
Apr. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCKHOLDERS' EQUITY AND INCENTIVE PLANS STOCKHOLDERS' EQUITY 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. In April 2025, 1,650,000 of those shares became fully vested and non-forfeitable. The remaining 850,000 shares were forfeited. On March 17, 2020, the Company granted 5.0 million restricted shares to employees. These shares have voting rights at date of grant and become fully vested and non-forfeitable on March 16, 2025. The restricted shares were valued at $0.41 per share, for a total of $2.0 million. The deferred compensation related to these grants was expensed on the financial statements over the five-year vesting period.
In October 2023, the Company granted a board member 300,000 shares under the plan. These shares were fully vested and non-forfeitable on the date of the grant. These shares were valued at $0.74, for a total of $222. The compensation related to this grant was expensed in the year ended April 30, 2024.
In January 2025, the Company granted executive officers 87 thousand shares under the plan as part of the compensation package for non-employee directors. The first installment of these shares vested immediately, the second installment vest on the one-year anniversary and the final installment vest on the two-year anniversary. These shares were valued at $1.73 per share for a total of $150 thousand. The deferred compensation related to these grants will be expensed on the financial statements over the remaining two-year vesting period.
In March 2025, the Company granted five board members a total of 39,430 shares under the plan. These shares were fully vested and non-forfeitable on the date of the grant. These shares were valued at $1.59 for a total of $63. The compensation related to this grant was expensed in the year ended April 30, 2025.
During the year ended April 30, 2025, no shares were forfeited. During the year ended April 30, 2024, 1,525,000 shares were forfeited. At April 30, 2025, total compensation cost related to nonvested awards not recognized was $100, and the weighted average period over which it is expected to be recognized is less than two years.
During the year ended April 30, 2025, the Company expensed $381. For the year ended April 30, 2024, the Company expensed $634 and received a benefit of $427 from the forfeiture of shares for a net expense of $207.
Number of SharesWeighted Average Grant Date Fair Value
Total shares issued (2019 - 2025)8,326,134$0.45 
Forfeited, in prior periods(975,000)$0.40 
Forfeited during the year ended April 30, 2024(1,525,000)$0.40 
Forfeited during the year ended April 30, 2025-$- 
Total5,826,134$0.48 
Vested shares5,768,331$0.46 
Non-vested shares57,803$1.73