Company: LIDRW
Filing Date: 2025-05-12
Form Type: POS AM
Source: 0000947871-25-000486
Chunk: 31

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: POS AM
Chunk 31
---
 or other
financial benefits provided by or through the corporation or any such subsidiary.

| 18 |

Except as specified in Section 203, an interested stockholder is generally
defined to include any person who, together with any affiliates or associates of that person, beneficially owns, directly or indirectly,
15% or more of the outstanding voting stock of the corporation, or is an affiliate or associate of the corporation and was the owner of
15% or more of the outstanding voting stock of the corporation, any time within three years immediately prior to the relevant date. Under
certain circumstances, Section 203 makes it more difficult for an interested stockholder to effect various business combinations with
a corporation for a three-year period, although the stockholders may elect not to be governed by this section, by adopting an amendment
to the Amended Charter or the Bylaws, effective 12 months after adoption. Our Amended Charter and Bylaws do not opt out from the restrictions
imposed under Section 203. We anticipate that the provisions of Section 203 may encourage companies interested in acquiring us to negotiate
in advance with the board of directors because the stockholder approval requirement would be avoided if a majority of the directors then
in office excluding an interested stockholder approve either the business combination or the transaction that resulted in the stockholder
becoming an interested stockholder. These provisions may have the effect of deterring hostile takeovers or delaying changes in control,
which could depress the market price of our Common Stock and deprive stockholders of opportunities to realize a premium on shares of Common
Stock held by them.

Amended Charter and Bylaw Provisions

In addition to the board of directors’ ability to issue shares of
preferred stock, our Amended Charter and Amended Bylaws contain the following provisions that may have the effect of discouraging unsolicited
acquisition proposals:

| · | Our Amended                                                                                  
 Charter and Amended Bylaws classify the board of directors into three classes with staggered 
 three-year terms (except for certain initial year terms);                                    |

| · | Under our Amended                                                                               
 Charter and Amended Bylaws, our Board may enlarge the size of the board and fill the vacancies; |

| · | Our Amended                                                                                    
 Charter and Amended Bylaws provide that a stockholder may not nominate candidates for the      
 board of directors at any annual or special meeting unless that stockholder notifies us of     
 its intention a specified period in advance and provides us with certain required information; |

| · | Our