| PRESS RELEASE FOR IMMEDIATE RELEASE | July 17, 2025 | ||||
BUTLER NATIONAL ADOPTS CORPORATE GOVERNANCE GUIDELINES New Guidelines Establish Mandatory Director Retirement Policy | |||||
New Century, Kansas, July 17, 2025 - Butler National Corporation (OTCQX: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul and a recognized provider of gaming management services, announces that its Board of Directors has adopted Corporate Governance Guidelines to promote the sound structure of the Board and best practices of its governance. The new Corporate Governance Guidelines codify existing policies, such as director and officer stock ownership guidelines and annual performance reviews of the Board and Chief Executive Officer. The Guidelines also establish several new policies, including a mandatory retirement age for directors following their 75th birthday. “Butler National has demonstrated significant progress towards good corporate governance over the past year, including moving towards annual elections of all directors, removing the poison-pill (shareholder rights plan), electing a Lead Independent Director, separating the roles of the Chairman of the Board and the Chief Executive Officer, adopting a majority vote standard for uncontested director elections, and now implementing the 75-year age limit. The director age limitation is a strategic move to cultivate fresh perspectives in alignment with the corporation’s evolving needs, commented Jeffrey D. Yowell, Executive Chairman of Butler National Corporation. “The Butler National Board continues to adopt policies that strengthen corporate governance, and the 75-year age limitation for directors supports effective leadership succession,” concluded Mr. Yowell. The Corporate Governance Guidelines are available to review on the corporation’s Investor Relations website. | |||||