Exhibit 99 | |
PRESS RELEASE January 5, 2011 FOR IMMEDIATE RELEASE | |
BUTLER NATIONAL CORPORATION ANNOUNCES ISSUANCE OF STOCK OPTION INCENTIVES FOR SENIOR EXECUTIVES - | |
OLATHE, KANSAS, January 5, 2011 - Butler National Corporation (OTC Bulletin Board BUKS), a leader in the growing global market for structural modification, maintenance, repair and overhaul (MRO) and a recognized provider of management services in diverse business groups announces the issuance of stock options in support of incentives for senior executives and management. The incentive stock options are allocated in three groups with two conditions for vesting. The first condition is stock price and the second condition is time: | |
Year 1: Target $0.92
Year 2: Target $1.41
Year 3: Target $1.90
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The Company currently has 56.2 million shares outstanding. Approximately 7.2 million stock options were issued on December 31, 2010. Previously issued stock options were time-vesting and did not include share price performance targets. All of the newly issued stock options expire December 31, 2015.
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