Company: OCC
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001437749-25-005577
Chunk: 22

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 22
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2017 Stock Incentive Plan are summarized below.

Background

The 2017 Plan is integral to the Company’s compensation strategy and programs. The Board believes that the 2017 Plan will help the Company recruit, motivate and retain the caliber of employees, Directors and consultants essential to the Company’s success, and will further align the interests of those persons with the interests of the Company’s shareholders.

The 2017 Plan permits grants of shares of restricted stock, restricted stock units, options, stock appreciation rights, performance grants and stock awards.

Awards and grants under the 2017 Plan are referred to as “Incentive Awards”. Incentive Awards may be made to any employee, Director or consultant employed by or providing bona fide services to the Company, its parent or its subsidiaries. Those persons who receive Incentive Awards under the 2017 Plan are referred to as “Participants.”

The 2017 Plan has been effective since March 28, 2017. The 2017 Plan automatically terminates at the close of business on February 26, 2027.

Eligibility

All present and future employees, non-employee Directors and consultants of the Company and its subsidiaries are eligible to receive Incentive Awards under the 2017 Plan if the Compensation Committee determines that they have contributed, or can be expected to contribute, significantly to the Company or any of its subsidiaries. The Compensation Committee has the power and complete discretion to select eligible employees and other eligible service providers to receive Incentive Awards and to determine the type of award and its terms and conditions. As of February 1, 2025, the Company estimates that there are less than 500 employees and other service providers (including two executive officers and all non-employee Directors) who may be eligible for Incentive Awards under the 2017 Plan.

Administration

The 2017 Plan is administered by the Compensation Committee. The Compensation Committee has full authority, subject to the provisions of the 2017 Plan to, among other things, determine the Participants to whom Incentive Awards will be granted, the type of Incentive Awards to be granted, the number of shares to be made subject to Incentive Awards, the exercise price and other terms and conditions of the Incentive Awards and to interpret the 2017 Plan. The Compensation Committee may prescribe, amend and rescind the rules and regulations relating to the 2017 Plan, and may delegate certain administrative powers to officers of the Company.

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