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Note 2 - Stock Incentive Plans and Other Share-based Compensation
 6 Months Ended
Apr. 30, 2016
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
(2)
Stock Incentive Plans and Other Share-Based Compensation
 
As of April 30, 2016, there were approximately 301,000 remaining shares available for grant under the Optical Cable Corporation Second Amended and Restated 2011 Stock Incentive Plan.
 
Share-based compensation expense for employees, a consultant and non-employee Directors recognized in the condensed consolidated statements of operations for the three months and six months ended April 30, 2016 was $295,264 and $514,337, respectively, and for the three months and six months ended April 30, 2015 was $387,200 and $637,694, respectively. Share-based compensation expense is entirely related to expense recognized in connection with the vesting of restricted stock awards or other stock awards.
 
Restricted and Other 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. Since fiscal year 2004, the Company has exclusively used restricted stock awards for all share-based compensation of employees and consultants, and stock awards to non-employee members of the Board of Directors.
 
Stock awards to non-employee members of the Board of Directors vest immediately upon grant, but cannot be sold, transferred, pledged or otherwise encumbered or disposed of until six months after the date of grant.
 
During the three months ended April 30, 2016, stock awards totaling 86,296 shares to non-employee Directors under the Optical Cable Corporation Second Amended and Restated 2011 Stock Incentive Plan were approved by the Board of Directors of the Company. The shares are part of the non-employee Directors’ annual compensation for service on the Board of Directors. The Company recorded compensation expense totaling $201,070 during the three months and six months ended April 30, 2016 related to the grants to non-employee Directors.
 
Restricted stock award activity during the six months ended April 30, 2016 consisted of restricted or other stock grants totaling 86,296 shares and 26,334 restricted or other shares withheld for taxes in connection with the vesting of restricted shares or other shares. Employees have the option to surrender shares to pay for withholding tax obligations resulting from any vesting restricted shares, or to pay cash to the Company in the amount of the withholding taxes owed on the value of any vesting restricted shares in order to avoid surrendering shares. Beginning with the 2016 grant, non-employee Directors have the option to surrender shares to pay for tax obligations resulting from any vesting shares as well.
 
As of April 30, 2016, the estimated 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 recognize over a 2.9 year weighted-average period is approximately $2.5 million.