Company: OCC
Filing Date: 2025-02-18
Form Type: PRE 14A
Source: 0001437749-25-004188
Chunk: 19

Company: OPTICAL CABLE CORP
Filing Date: 2025-02-18
Form: PRE 14A
Chunk 19
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, time vesting awards to non-employee directors under the 2017 Plan vest at the end of one year from the date of grant. Generally, time vesting awards to consultants vest over five or more years. |
| ● | Shares that vest based on the achievement of certain performance goals require the achievement of pre-established objectives under the 2017 Plan. Attainment of a specified level of gross profit growth rate is the performance goal for currently outstanding restricted stock awards.                                                                                                                              |
| ● | The minimum-vesting restrictions do not apply with respect to a maximum of 5% of the Common Shares authorized to be issued under the 2017 Plan, including any Awards granted as an inducement to join the Company as a new employee to replace forfeited awards from a former employer.                                                                                                                               |
| ● | The 2017 Plan provides for administration by the Compensation Committee which is comprised of independent Directors.                                                                                                                                                                                                                                                                                                  |
| ● | With the limited exception of shares withheld by the Company to cover tax withholding obligations, the 2017 Plan does not allow for “liberal” share recycling.                                                                                                                                                                                                                                                        |

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| ● | The 2017 Plan specifically prohibits repricing of stock options or stock appreciation rights (except as approved in advance by shareholders).                                                                                       |
| ● | The 2017 Plan specifically prohibits the “reloading” of stock options or stock appreciation rights, or extending the term of such awards beyond the maximum period specified in the 2017 Plan or the grant agreement for the award. |
| ● | The 2017 Plan does not contain a “liberal” change of control definition (e.g., mergers and other covered transactions require consummation).                                                                                        |
| ● | The 2017 Plan prohibits the payment of dividends on restricted shares until such time that the restrictions have lapsed.                                                                                                            |
| ● | If not sooner terminated, the 2017 Plan automatically terminates on February 26, 2027, with no new awards permitted after the termination of the 2017 Plan.                                                                         |

Optical Cable Corporation 2017 Stock Incentive Plan, as Amended

The Optical Cable Corporation 2017 Stock Incentive Plan was adopted by the Company’s Board of Directors on February 27, 2017, approved by the Company’s shareholders at the annual meeting of shareholders held on March 28, 2017 (the “original 2017 Plan”), and effective immediately after the original 2017