Company: LIDRW
Filing Date: 2025-04-03
Form Type: S-8
Source: 0000947871-25-000356
Chunk: 1

Company: AEye, Inc.
Filing Date: 2025-04-03
Form: S-8
Chunk 1
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 transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

<div align='center'>EXPLANATORY NOTE</div>

Pursuant to
General Instruction E to Form S-8, AEye, Inc. (the “Registrant”) is filing this Registration Statement on Form S-8 (this “Registration
Statement”) with the United States Securities and Exchange Commission (the “Commission”) to register (i) 406,024 additional
shares of the Registrant’s common stock, par value of $0.0001 per share (the “Common Stock”), reserved for issuance
under the Registrant’s 2021 Equity Incentive Plan (the “2021 EIP”), as a result of the annual increase under the 2021
EIP; and (ii) 135,341 additional shares of Common Stock reserved for issuance under the Registrant’s 2022 Employee Stock Purchase
Plan (the “2022 ESPP”), as a result of the annual increase under the 2022 ESPP.

The number of shares of Common Stock
available for issuance under the 2021 EIP is subject to an annual increase on the first day of each fiscal year during the period specified
therein equal to (other than the first annual increase) the lesser of (i) three percent (3%) of the number of shares of Common Stock outstanding
as of the conclusion of the Registrant’s immediately preceding fiscal year or (ii) such amount, if any, as the board of directors
of the Registrant (the “Board”) may determine (the “2021 EIP Evergreen Provision”). Pursuant to the 2021 EIP Evergreen
Provision, the Board, through its Compensation Committee, has determined that the number of shares of Common Stock available for issuance
under the 2021 EIP shall be increased by 406,024 shares for fiscal year 2025, effective January 1, 2025. The additional shares available
for issuance under the 2021 EIP are of the same class as other securities relating to the 2021 EIP for which the Registrant has filed
registration statements with the Commission on Form S-8 (Registration Nos. 333-280309, 333-272570, 333-270731, 333-265064 and 333-260601)
filed with the Securities and Exchange Commission (the “