Company: OCC
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001437749-25-005577
Chunk: 12

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 12
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 financial statements, accounting and financial reporting processes and external audits. The Audit Committee selects the independent registered public accounting firm of the Company; pre-approves the audit and permitted non-audit services provided by the Company’s independent registered public accounting firm; discusses and reviews the scope and the fees of the prospective annual audit; reviews the audit plan and the results of the annual audit with the Company’s independent registered public accounting firm; reviews compliance with existing major financial policies of the Company; reviews the adequacy of the financial organization of the Company; reviews management’s procedures and policies relative to the adequacy of the Company’s internal control over financial reporting, and compliance with federal and state laws relating to accounting practices; and is notified of material proposed transactions, if any, with related parties. The Audit Committee meets no less frequently than quarterly.

The Compensation Committee is comprised of Messrs. Frazier, Nygren and Weber. All of the members of the Compensation Committee are considered independent under the Board independence standard, which is the same standard for Compensation Committee independence. The Company adheres to the corporate governance guidelines of Nasdaq and the SEC when determining independence. The Compensation Committee met three times during the fiscal year. The Compensation Committee and Board of Directors, as appropriate, administer the Optical Cable Corporation 2017 Stock Incentive Plan (the “2017 Plan”) as amended together with other predecessor and successor plans (collectively, the “stock incentive plans”). Since December 2001, the Compensation Committee has consisted of only non-employee Directors. Mr. Weber is the Compensation Committee Chairman.

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The Compensation Committee operates under a written charter adopted by the Board of Directors which can be found on the Company’s website at www.occfiber.com/investor-relations/under“Corporate Governance”. The Compensation Committee: reviews and approves all compensation for the President and Chief Executive Officer (the “CEO”) and the Senior Vice President and Chief Financial Officer (the “CFO”) on an annual basis; establishes the individual goals for the CEO and CFO to be used for determining incentive compensation for the CEO and CFO on an annual basis; reviews and approves all compensation for other executive officers of the Company (if any) on an annual basis; reviews recommendations made by the CEO with respect to compensation for other senior officers (other than the CEO and other executive officers) on an annual basis; reviews and approves the CEO’s employment agreement, the CFO’s employment agreement, and employment agreements for other executive officers; reviews recommendations made by the CEO with