Business Context and Reporting Period
Company: Optical Cable Corporation
Filing Type: Form 8-K (Current Report)
Report Date: December 31, 2008
Event Date: December 31, 2008
Context: The filing reports the entry into material definitive agreements and changes in executive compensation arrangements.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on legal and administrative updates rather than financial performance data.
Material Changes
On December 31, 2008, Optical Cable Corporation and its wholly-owned subsidiary, Superior Modular Products Incorporated (d/b/a SMP Data Communications), amended employment agreements with the following officers:
- Neil D. Wilkin, Jr.
- Tracy G. Smith
- William R. Reynolds
Purpose of Change: The amendments were executed to ensure compliance with Section 409A of the Internal Revenue Code and related rules regarding the tax-favorable treatment of nonqualified deferred compensation arrangements.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies were disclosed beyond the regulatory compliance requirement for the employment agreement amendments.
Investor Verification Checklist
- Verify the specific terms of the employment agreement amendments filed as Exhibits 10.1, 10.2, and 10.3.
- Confirm that the amendments successfully align deferred compensation with Section 409A requirements to avoid adverse tax consequences.
- Review subsequent filings for any financial impact resulting from these compensation adjustments.