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Stock Option Plan And Other Share-Based Compensation
 3 Months Ended
Jan. 31, 2012
Stock Option Plan And Other Share-Based Compensation [Abstract]  
Stock Option Plan And Other Share-Based Compensation

(2) Stock Option Plan and Other Share-Based Compensation

As of January 31, 2012, there were approximately 467,000 and 56,000 remaining shares available for grant under the Optical Cable Corporation 2011 Stock Incentive Plan and the Optical Cable Corporation 2005 Stock Incentive Plan, respectively.

Share-based compensation expense for employees and Non-employee Directors recognized in the condensed consolidated statements of income for the three months ended January 31, 2012 and 2011 was $253,843 and $180,461, respectively, and was entirely related to expense recognized in connection with the vesting of restricted stock awards.

Stock Option Awards

Prior to July 2002, employees and outside contractors were issued options to purchase common stock. Additionally, during 2002, non-employee members of the Company's Board of Directors were granted options to purchase shares of the Company's common stock. The exercise price equaled the market price of the Company's common stock on the date of grant.

 

Stock option activity during the three months ended January 31, 2012 is as follows:

  Number of
options		 Weighted-
average
exercise price		 Weighted-
average
remaining
contractual
term (in years)
 
 
 
 
Outstanding and exercisable at October 31, 2011 131,388 $ 7.11 0.34
Forfeited —   — —
Outstanding and exercisable at January 31, 2012 131,388 $ 7.11 0.09

 

Restricted Stock Awards

The Company has granted, and anticipates granting from time to time, restricted stock awards subject to approval by the Compensation Committee of the Board of Directors.

Restricted stock award activity during the three months ended January 31, 2012 consisted of 29,832 restricted shares withheld for taxes in connection with the vesting of restricted shares.

As of January 31, 2012, the maximum amount of compensation cost related to unvested equity-based compensation awards in the form of service-based and operational performance-based shares that the Company will have to recognize over a 3.0 year weighted-average period is approximately $1.3 million.