Form 4: Optical Cable Corp: CEO Neil D. Wilkin Jr. Disposes of Shares for Tax Obligations

Neil D. Wilkin Jr., Chairman, President, and CEO of Optical Cable Corp, disposed of 4,345 shares to cover tax obligations related to previously granted restricted shares on January 31, 2025.

Summary

• On January 31, 2025, Neil D. Wilkin Jr., Chairman, President, and CEO of Optical Cable Corp, disposed of 4,345 shares of common stock to cover tax obligations.
• The shares were surrendered as allowed by the company's 2017 Stock Incentive Plan for the payment of taxes due on previously granted restricted shares.
• Mr. Wilkin surrendered the shares as partial payment of the taxes due, and paid cash for the remainder.
• Following the transaction, Mr. Wilkin directly owns 1,043,155 shares.
• He also indirectly owns 22,595 shares through Wilkin Capital Fund I, LLC, and 315 shares each through Daughter #1, Daughter #2, and Son, and 115 shares through Daughter #3.
• Mr. Wilkin disclaims beneficial ownership of the shares held by his children.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to tax obligations, which is neutral in sentiment.

Management Comments

• Mr. Wilkin is surrendering 4,345 shares as partial payment of the taxes due, and paying cash for the remainder of the taxes due.
• The reporting person disclaims beneficial ownership of all securities held by his children, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It doesn't necessarily indicate a change in the company's prospects or management's confidence.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for executives to manage their tax liabilities related to stock-based compensation.

Key Dates