Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 138

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 138
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   The total fair value of RSUs that vested during the year ended  December 31, 2024 was $9,716.
    
   Stock-Based Compensation Expense —The following table summarizes stock-based compensation expense recorded in each financial statement line item in the Company’s consolidated statements of operations and comprehensive loss for the year ended  December 31, 2024 and 2023 (in thousands):

       Year ended December 31,  
   2024    2023  
 Cost of revenue  $—  $136 
 Research and development   3,433   6,821 
 Sales and marketing   247   2,993 
 General and administrative   5,367   8,121 
 Total stock-based compensation  $9,047  $18,071 

   The total unrecognized compensation expense for RSUs was $5,603 as of  December 31, 2024 which is expected to be recognized over an estimated weighted average period of 1.03 years. The total unrecognized compensation expense for the ESPP was $282 as of  December 31, 2024 which is expected to be recognized over an estimated weighted average period of 1.00 years.  There is no unrecognized compensation expense for stock options as of  December 31, 2024.

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   The Company uses the Black-Scholes option-pricing model to estimate the grant-date fair value of ESPP purchase rights. The fair value of each of the four purchase periods is estimated separately. The Company uses the Monte-Carlo simulation model to estimate the grant date fair value of awards with a market condition. Both models require the input of subjective assumptions such as expected term, expected stock price volatility, risk-free interest rate and dividend yield as discussed below.
    
   Expected Term—The expected term for ESPP is the length of time from the grant date to the date on which the stock is purchased by the employees. The expected term for awards with a market condition is the length of time from the grant date to the date the market condition expires.
    
   Expected Volatility—Expected volatility is estimated using a combination of the average historical volatility of the Company's own stock and those of comparable companies’ stock at the time of the grant.
    
   Risk-Free Interest Rate—The risk-free interest rates are based on US Treasury yields in effect at the grant date for notes with comparable terms as the awards.