Company: OCC
Filing Date: 2025-02-18
Form Type: PRE 14A
Source: 0001437749-25-004188
Chunk: 51

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-18
Form: PRE 14A
Chunk 51
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 2024 through April 1, 2024 (same as used for the non-employee director stock awards made in May 2024) should be used to calculate the number of Common Shares issued for long-term incentive restricted stock awards for Mr. Wilkin and Ms. Smith on August 7, 2024. This stock price used in the calculation for the number of Common Shares included in the restricted stock awards granted to the executive officers on August 7, 2024 was more than 9% higher than the average closing price per share during the 20 trading dates immediately preceding the first business day after January 15, 2024 and was more than 11% higher than the closing share price at the time grants were made in August 2024, resulting in fewer Common Shares included in these restricted stock awards, which benefited the Company’s other shareholders.

During fiscal year 2024, Mr. Wilkin was granted a restricted stock award of 71,595 Common Shares and Ms. Smith was granted a restricted stock award of 36,630 Common Shares under the 2017 Plan on August 7, 2024, with all such shares being subject to performance-based vesting over more than five years and are subject to forfeiture.

During fiscal years 2023 and 2022, the Company did not grant equity incentive awards to employees, including named executive officers, except one restricted stock grant made to a newly hired employee during fiscal year 2022. The decision to not grant equity incentive awards during fiscal years 2023 and 2022 (which normally would be granted in January of the fiscal year) was made by the Compensation Committee upon the recommendation of the CEO.

Summary Compensation Table

The following table sets forth information concerning compensation paid by the Company to the Chief Executive Officer and to all other named executive officers of the Company whose total salary and bonus exceeded $100,000 for the fiscal year ended October 31, 2024.

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For purposes of this table and subsequent tables, fiscal year 2024 means November 1, 2023 through October 31, 2024, fiscal year 2023 means November 1, 2022 through October 31, 2023 and fiscal year 2022 means November 1, 2021 through October 31, 2022.

| Summary Compensation Table 
 Name and Principal         
 Position                   |     | Fiscal 
  Years |     | Annual     
 Salary ($) |         |     |