Company: OCC
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001437749-25-005577
Chunk: 49

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 49
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and other employees) is generally calculated by using the average closing price per share during the 20 trading dates immediately preceding the first business day after January 15, divided by the dollar value of the share-based compensation to be received.

The Company has an Equity Ownership and Retention Policy for Employees. The policy is applicable to all employees receiving share-based compensation. The intention of this policy is to ensure members of the leadership team, and other employees receiving share-based compensation have wealth at risk in the Company’s Common Shares, further aligning the interests of the employees with those of the shareholders. A copy of the Equity Ownership and Retention Policy for Employeescan be found on the Company’s website at www.occfiber.com/investor-relations/under “Corporate Governance”.

Clawback Policy

Optical Cable Corporation is committed to promoting high standards of honest and ethical business conduct and compliance with applicable laws, rules and regulations. As part of this commitment, the Company adopted a Compensation Recovery Policy (“Clawback Policy”) in compliance with Section 10D of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), effective November 30, 2023.

The Company’s Clawback Policy is administered by the Compensation Committee and enables the Company to recover from specified current and former executive officers certain incentive-based compensation in the event of an accounting restatement resulting from material noncompliance with any financial reporting requirements under the federal securities laws for the three most recent completed fiscal years. Such recovery will be made without regard to any individual knowledge or responsibility related to the accounting restatement.

Compensation of Executive Officers

Executive officer compensation is generally comprised of three components: base salary, annual short-term incentive compensation opportunity, and long-term share-based compensation pursuant to the terms of the 2017 Plan. OCC’s fiscal year 2024 was November 1, 2023 to October 31, 2024.

Base Salary

Mr. Wilkin’s current annual base salary is $495,000, an annual base salary rate effective since August 1, 2023. Prior to August 1, 2023, Mr. Wilkin’s last annual base salary rate adjustment was effective December 16, 2018.

Ms. Smith’s current annual base salary is $315,000, an annual base salary rate effective since August 1, 2023. Prior to August 1, 2023, Ms. Smith’s last annual base salary rate adjustment was effective December 16, 2018