Company: LIDRW
Filing Date: 2025-04-21
Form Type: DEFC14A
Source: 0001104659-25-036915
Chunk: 9

Company: AEye, Inc.
Filing Date: 2025-04-21
Form: DEFC14A
Chunk 9
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2024, stockholders had been diluted by about 30% from the start of 2024 and outstanding              
 shares were about 9.3 million.  The Founders Group again looked at what could be done to stabilize the Company and move it                
 forward and determined that Declassification of the Board and a cap on dilution would provide some benefit to stock value.  On            
 December 2, 2024, Ransom Wuller and Valerie Wuller each submitted proposals for the annual meeting under Exchange Act rule 14a-8.  Ransom 
 Wuller submitted a proposal to declassify the Board. We believe that declassification of the board leads to a more responsive board by    
 holding elections for all directors annually, and that declassification could enhance the Company’s market value.  Valerie                
 Wuller submitted a proposal to cap authorized shares at 20,000,000. A Cap on authorized shares at 20,000,000 would have left some room    
 for dilution but would provide investors some comfort.  It would also bring authorized shares in line with the Company’s                  
 outstanding shares after completion of the reverse split.                                                                                 |

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| · | At the same time, Mr. Wuller again                                                                                         
 wrote the board and encouraged them to adopt the two proposals as Company proposals for the annual meeting.  He noted that 
 they could provide price stability and potentially provide positive news in the market for the Company.                    |

| · | Not only did the Company not respond,                                                                                                  
 but it filed objections to the proposals with the Securities and Exchange Commission (the “SEC”) (on non-substantive technical         
 grounds, which objections were later withdrawn by the Company) and then sold shares through an at-the-market offering (“ATM”)          
 to dilute the stockholders by another 50% and make the proposed cap on authorized shares impossible by exceeding that limit. The share 
 price plunged to its current level of approximately $0.60.  The Company is now in danger of delisting from NASDAQ, having received     
 a notice of non-compliance with NASDAQ listing standards on March 11, 2025.                                                            |

| · | We believe that stockholders should                                                                                                       
 send the Company a clear message that they are tired of suffering dilution at depressed prices. In our opinion, the Board’s decision      
 to approve the ATM was punitive, unnecessary and contrary to the best interests of stockholders. By supporting