Company: OCC
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001437749-25-005577
Chunk: 16

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 16
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 compensation plans.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTEFORTHE ELECTION OF THE DIRECTORS NAMED ON THE PROXY.

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PROPOSAL NO. 2
APPROVAL OF THE SECOND AMENDMENT TO THE OPTICAL CABLE CORPORATION 2017 STOCK INCENTIVE PLAN, AS AMENDED, TO AUTHORIZE AN ADDITIONAL 350,000 NEW COMMON SHARES OF THE COMPANY FOR ISSUANCE UNDER THE 2017 STOCK INCENTIVE PLAN, WITH NO OTHER MODIFICATIONS TO THE TERMS OF THE 2017 PLAN</div>

The Company is seeking approval of the Second Amendment (“Second Amendment”) to the Optical Cable Corporation 2017 Stock Incentive Plan, as amended (the “2017 Plan” or the “2017 Stock Incentive Plan”), to authorize an additional 350,000 new Common Shares of the Company for issuance under the 2017 Plan.

As of February 1, 2025, there are remaining 50,904 Common Shares available for issuance under the 2017 Plan. If approved, the Second Amendment will become effective on March 25, 2025 immediately following the annual meeting of shareholders.

The complete text of the Second Amendment is attached hereto asAppendix A.

If the Second Amendment is approved by the shareholders, this will be the first time new Common Shares have been authorized for issuance under the stock incentive plan of the Company since March 29, 2022.

Incentive Compensation as a Key Component of Overall Compensation

The 2017 Plan is a key component of our incentive compensation program for our named executive officers and other key employees. The Company has had a stock incentive plan in place for such purposes continually since 1996, each approved by the shareholders.

The 2017 Plan has 50,904 Common Shares remaining for issuance as of February 1, 2025. The last time the Company authorized additional new Common Shares of the Company for issuance under the 2017 Plan was three years ago on March 29, 2022, after approval by the shareholders at the annual meeting of shareholders.

The 2017 Plan is designed to benefit the Company and its shareholders by aligning the long-term interests of executive officers and other key employees, non-employee Directors, and other service providers with the interests of our shareholders, and to enable the Company to attract, motivate and retain the best available individuals for service to the Company.

The key features of the