Business Context and Reporting Period
Company: Optical Cable Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: October 16, 2009 (Event Date); Signed November 17, 2009
Context: The filing reports a corporate action approved by the Board of Directors regarding a share repurchase program.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a capital allocation event.
Material Changes
- Share Repurchase Authorization: On October 16, 2009, the Board approved a plan to purchase and retire up to 5% of the Company's current outstanding common stock.
- Share Count: The plan authorizes the repurchase of up to 325,848 shares.
- Execution Status: As of the filing date, no shares have been purchased under this plan.
- Timeline: Purchases are anticipated to occur over the next 12 to 24 months, unless the full amount is acquired sooner.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates by reference a press release (Exhibit 99.1) announcing the repurchase plan. No specific financial guidance or outlook regarding future earnings or operations is provided in this text.
Risks and Contingencies: The filing does not explicitly detail new risks or contingencies beyond the standard execution of the repurchase plan.
Investor Verification Checklist
- Verify the total number of outstanding shares to confirm the 5% calculation (325,848 shares).
- Review the attached press release (Exhibit 99.1) for specific pricing parameters or trading restrictions.
- Monitor future 8-K filings or quarterly reports for actual share repurchase activity and cash outflow.
- Confirm the company's current cash position to assess the impact of the repurchase on liquidity.