OPTICAL CABLE CORP
For the period ended Mar 25, 2025. Filed Feb 28, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Mar 25, 2025 · Filed Feb 28, 2025
Contents
Pay versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and Item 402(v) of Regulation S-K, which was adopted by the SEC in August 2022, we are providing the following information regarding the relationship between compensation actually paid to our principal executive officer (“PEO”) and non-PEO named executive officer (“NEO”) and certain financial performance of the Company for the fiscal years listed below.
| Fiscal Year | Summary Compensation Table Total for PEO (1) | Compensation Actually Paid to PEO (2) | Summary Compensation Table Total for Non-PEO NEO (3) | Compensation Actually Paid to Non-PEO NEO (4) | Value of Initial Fixed $100 Investment Based on Total Shareholder Return (5) | Net Income (Loss) |
|---|---|---|---|---|---|---|
| 2024 | $710,873 | $669,989 | $439,366 | $418,834 | $63.47 | $(4,210,211) |
| 2023 | 489,661 | 452,145 | 320,911 | 303,713 | 70.21 | $2,066,498 |
| 2022 | 477,913 | 480,497 | 312,721 | 313,257 | 92.49 | $(347,091) |
(1) The dollar amounts reported are the amounts of total compensation reported for our PEO, Neil D. Wilkin, Jr., in the Summary Compensation Table for fiscal years 2024, 2023 and 2022.
(2) The dollar amounts reported represent the amounts of “compensation actually paid” to our PEO, Neil D. Wilkin, Jr., as computed in accordance with Item 402(v) of Regulation S-K, for each covered year. See table below.
(3) The dollar amounts reported are the amounts of total compensation reported for our Non-PEO NEO, Tracy G. Smith, in the Summary Compensation Table for fiscal years 2024, 2023 and 2022.
(4) The dollar amounts reported represent the amounts of “compensation actually paid” to our Non-PEO NEO, Tracy G. Smith, as computed in accordance with Item 402(v) of Regulation S-K, for each covered year. See table below.
(5) Assumes an investment of $100 on October 31, 2021 through the end of the listed fiscal year. The closing price of the Company’s common stock as reported on Nasdaq on the following trading days were (i) $3.86 on October 31, 2021; (ii) $3.57 on October 31, 2022; (iii) $2.71 on October 31, 2023; and (iv) $2.45 on October 31, 2024.
The following table details the applicable adjustments that were made to determine “compensation actually paid” to our PEO and Non-PEO NEO.
| PEO | Non-PEO NEO | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | 2024 | 2023 | 2022 | |
| Summary Compensation Table Total | $710,873 | $489,661 | $477,913 | $439,366 | $320,911 | $312,721 |
| Grant date fair value of awards granted during the covered fiscal year. | (190,443) | — | — | (97,436) | — | — |
| Fair value as of the end of the covered fiscal year of all awards granted during the covered fiscal year that are outstanding and unvested at the end of the covered fiscal year. | 175,408 | — | — | 89,744 | — | — |
| Change in the fair value as of the end of the covered fiscal year (from the end of the prior fiscal year) of any awards granted in any prior fiscal year that are outstanding and unvested as of the end of the covered fiscal year. | (24,581) | (46,986) | (21,125) | (12,259) | (21,539) | (9,684) |
| Change in the fair value as of the vesting date (from the end of the prior fiscal year) of any awards granted in any prior fiscal year that vested during the covered fiscal year. | (1,268) | 9,470 | 23,709 | (581) | 4,341 | 10,220 |
| Compensation Actually Paid | $669,989 | $452,145 | $480,497 | $418,834 | $303,713 | $313,257 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.