Company: OCC
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001437749-25-005577
Chunk: 48

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 48
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, including revenue, EBITDA, net income, market capitalization, and return on equity, as well as statistical summary data for each measure.

The peer group contained 12 public companies in addition to OCC. The peer group used by the compensation consultant for recommendations regarding executive compensation is the same peer group used by the compensation consultant for recommendations regarding non-employee director compensation.

The compensation consultant report to the Compensation Committee in fiscal year 2023 also included compensation data using published survey data, which uses databases that include both public and non-public companies, for similar-sized manufacturing companies.

The compensation consultant provided data regarding ranges of base salary, annual short-term incentive compensation (amounts paid and target awards), and long-term equity incentive compensation, for each of the executive officers.

The compensation consultant also provided similar data and analysis regarding compensation for other members of OCC’s leadership team. The CEO uses this data in establishing compensation levels for members of the senior leadership team. The Compensation Committee reviewed data and advised the CEO regarding compensation for the senior members of the leadership team (the CEO’s direct reports), other than the CFO whose compensation is set by the Compensation Committee.

The Compensation Committee generally targets executive compensation within a range approximately between the 25 and the 50 percentile of the revenue-based peer group recommended by the compensation consultant.

The Compensation Committee also considered recommendations of the compensation consultant regarding vesting periods and mix (performance-based vesting and time-based vesting) of long-term share-based compensation.

For fiscal year 2024, the Compensation Committee considered the data and recommendations provided by the compensation consultant, and decided on executive compensation levels for fiscal year 2024.

The CEO used a similar approach to decide on compensation levels for the 2024 year for other members of the leadership team (other than the CEO and CFO), using the published survey data and recommendations provided by the compensation consultant.

Share-based compensation to executives is issued in accordance with the Optical Cable Corporation Amended and Restated Policy for the Timing of Equity Compensation Grants Under Stock Incentive Plans, adopted by the Compensation Committee and approved by the Board on March 29, 2016. Generally, the Timing Policy anticipates annual long-term incentive equity grants for executives (and other employees) to occur on or about the first business day after January 15 of each year.

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In accordance with the Optical Cable Corporation Amended and Restated Policy for the Timing of Equity Compensation Grants Under Stock Incentive Plans, the actual number of Common Shares issued to an executive (