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Stock Incentive Plans and Other Share-Based Compensation
3 Months Ended
Jan. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Incentive Plans and Other Share-Based Compensation
Stock Incentive Plans and Other Share-Based Compensation
As of January 31, 2014, there were approximately 418,000 remaining shares available for grant under the Optical Cable Corporation Amended and Restated 2011 Stock Incentive Plan ("Amended 2011 Plan").
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, 2014 and 2013 was $155,412 and $336,798, 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.
Restricted stock award activity during the three months ended January 31, 2014 consisted of 22,863 restricted shares forfeited or withheld for taxes in connection with the vesting of restricted shares.
As of January 31, 2014, 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 3.2 year weighted-average period is approximately $2.0 million.