Company: LIDRW
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0000947871-25-000443
Chunk: 2

Company: AEye, Inc.
Filing Date: 2025-05-01
Form: 8-K
Item: Item 5.02
Chunk 2
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of  

On April 29, 2025 (the “ Appointment Date”),
the Board of Directors (the “ Board”) of AEye, Inc. appointed Doron Simon, effective as of the
Appointment Date, as a Class II director, which term will expire at the Company’s 2026 annual meeting of shareholders, and to serve
on the Strategic Finance and M& A Committee.

Prior to his appointment as a director, Mr. Simon,
directly and through his consulting entity, provided consulting services to the Company. In connection with the foregoing, the Company
and Mr. Simon and his consulting entity entered into a consulting agreement, dated as of May 14, 2023, as amended from time to time, pursuant
to which the Company (i) paid Mr. Simon and his consulting entity aggregate fees of $456,000 from June 2023 through March 2025 and (ii)
granted Mr. Simon 33,970 restricted stock units, which have fully vested. The consulting agreement with Mr. Simon is expected to be terminated
on or before May 14, 2025.

Mr. Simon will receive compensation for his service
through the 2026 annual meeting in accordance with the Company’s standard compensation policies and practices for non-employee directors
of the Board, which is described in the Company’s Definitive Proxy Statement on Schedule 14A, filed with the SEC on April 7, 2025.

Other than as described above, there are no arrangements
or understandings between Mr. Simon and any other person pursuant to which he was selected as a director of the Company. Mr. Simon has
no family relationships with any of the Company’s directors or executive officers and, other than as disclosed above, is not a party
to any transactions of the type listed in Item 404(a) of Regulation S-K.

The Company will enter into its standard form
of indemnification agreement with Mr. Simon, consistent with the form of indemnification agreement the Company has executed with each
of the Company’s directors, the full text of which was filed with the Securities and Exchange Commission by the Company on August
23, 2021 as Exhibit 10.2 to a Current Report on Form 8-K.