Business Context and Reporting Period
This Form 8-K filing by Optical Cable Corporation (OCC) reports a corporate governance event dated March 18, 2010. The company is incorporated in Virginia and maintains its principal executive offices in Roanoke, VA.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on board committee formation and contains no financial performance data.
Material Changes
On March 18, 2010, the Board of Directors formed a new Nominating and Corporate Governance Committee. This committee consists of three independent members:
- Chairman: Mr. Randall H. Frazier
- Members: Messrs. Craig H. Weber and John B. Williamson, III
The committee was recommended by Neil Wilkin, Chairman of the Board, President, and CEO, and was unanimously approved by the Board.
Outlook, Risks, and Management Commentary
The Nominating and Corporate Governance Committee will begin its duties following the election of Directors at the Annual Meeting of Shareholders scheduled for March 30, 2010. The committee's responsibilities include:
- Reviewing qualifications of candidates for the Board of Directors and recommending nominees.
- Reviewing and making recommendations on Director independence and corporate governance matters.
- Performing other duties as set forth in the Committee Charter to be adopted by the Board.
The filing does not disclose specific risks, contingencies, or unusual items beyond the standard governance update.
Key Facts for Investor Verification
- Confirmation of the Annual Meeting of Shareholders date (March 30, 2010).
- Adoption of the Nominating and Corporate Governance Committee Charter.
- Verification of the independence status of the three new committee members.