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Stock Option Plan And Other Share-Based Compensation
 6 Months Ended
Apr. 30, 2013
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

On March 26, 2013, the Company's shareholders approved the Optical Cable Corporation Amended and Restated 2011 Stock Incentive Plan ("Amended 2011 Plan") that was recommended for approval by the Company's Board of Directors. The Amended 2011 Plan reserves an additional 500,000 common shares of the Company for issuance under the Amended 2011 Plan and succeeds and replaces the Optical Cable Corporation 2005 Stock Incentive Plan (the "2005 Plan"). As a result, there were approximately 723,000 shares (including the 500,000 shares added to the Amended 2011 Plan, 59,172 shares rolled over from the 2005 Plan and 163,328 shares from the pre-amended 2011 Plan) available for grant under the Amended 2011 Plan as of April 30, 2013.

Share-based compensation expense for employees and non-employee Directors recognized in the condensed consolidated statements of income for the three months and six months ended April 30, 2013 was $294,874 and $631,672, respectively, and for the three months and six months ended April 30, 2012 was $429,630 and $683,474, respectively, and was entirely related to expense recognized in connection with the vesting of restricted stock awards.

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.

During the three months ended April 30, 2013, restricted stock awards under the 2004 Non-employee Directors Stock Plan, as amended, totaling 36,632 shares were approved by the Board of Directors of the Company. The shares are part of the non-employee Director's annual compensation for service on the Board of Directors, and the shares vest immediately upon grant. The Company recorded compensation expense totaling $153,488 during the three months and six months ended April 30, 2013 related to the grants to non-employee Directors.

Restricted stock award activity during the six months ended April 30, 2013 consisted of restricted share grants totaling 36,632 shares and 75,518 restricted shares withheld for taxes in connection with the vesting of restricted shares.

As of April 30, 2013, 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 2.5 year weighted-average period is approximately $1.2 million.