Company: OCC
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001437749-25-005577
Chunk: 53

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 53
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 in column 
 (a))                                                         |        |
| Equity compensation plans:            |     |                  |         |     |                   |   |     |                                                              |        |
| 2017 Stock Incentive Plan (in shares) |     |                  | 482,973 |     |                   | — |     |                                                              | 29,137 |

| (1) | Includes restricted shares that are issued and outstanding, but have not yet vested and are subject to forfeiture. The Company had no outstanding options, warrants, stock appreciation rights or other incentive awards outstanding at October 31, 2024. |

The term “shares” in the table above means our Common Shares.

During fiscal year 2024, equity compensation awards for employees and non-employee directors were granted under the 2017 Plan. Non-employee director awards were granted in May 2024 and employee awards were granted in August 2024.

The 2017 Plan is used for equity compensation awards for employees, non-employee directors and consultants.

Equity Compensation Plan Information

The Company uses long-term equity incentive grants to provide appropriate share-based incentives to key employees to accomplish the Company’s strategic goals and build long-term shareholder value, to strengthen the desire of such key employees to remain with the Company, and to align the personal financial interests of such key employees with those of the Company’s shareholders. The Compensation Committee believes that equity awards are particularly appropriate in light of the nature of the Company’s business and long-term business plans.

Long-term equity incentive grants are made pursuant to the 2017 Plan, and predecessor stock incentive plans. The Compensation Committee receives recommendations from the President and Chief Executive Officer for employees (other than the President and Chief Executive Officer and the other executive officer) eligible to receive long-term equity incentive grants. The Compensation Committee reviews the recommendations ensuring that proposed long-term equity incentive grants are consistent with accomplishing the Company’s long-term objectives, and approves all long-term equity incentive grants made to employees (with the Compensation Committee both proposing and approving long-term equity incentive grants for the President and Chief Executive Officer and the other executive officer). Individual performance and Company performance are considered in awarding long-term incentive equity compensation. The Compensation Committee and the Board believe that the use of stock awards, rather than stock options (for example), tend to be less dilutive to shareholders and also may tend to result in a lower expense to the Company under current U.S. generally accepted accounting principles. No stock options have been awarded since June 2002.

As of October