Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 841

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 841
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ive Plan”), the 2022 Employee Stock Purchase Plan (the "ESPP"), and the 2023 CEO Inducement Grant Plan (the "CEO Plan"). On  August 16, 2021, the Company’s 2014 Plan and 2016 Plan were terminated in connection with the closing of the business combination as defined in Note 1, but continue to govern the terms of outstanding equity awards that were granted prior to the termination of the plans.
    
   2014 Plan and 2016 Plan
    
   The 2014 and 2016 Plan provide for the grant of incentive stock options to employees only and non-statutory stock options and RSUs to employees, directors, and consultants of the Company. As of  August 16, 2021, the Company no longer grants equity awards pursuant to the 2014 Plan or 2016 Plan, and as of  December 31, 2024, 58,056 RSUs were granted.
    
   Under the 2016 Plan, options to purchase common stock generally vest over four years with 25% vesting at the end of the first year and the rest vesting ratably over the next three years. RSUs generally vest 25% at the end of the first year with the remaining RSUs vesting ratably over the next three years or they vest ratably over the four years. Under the 2014 Plan, the vesting period for options to purchase common stock range from immediate to four years. Under each plan, the options expire ten years from the date of grant.

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   2021 Equity Incentive Plan
    
   The Incentive Plan became effective immediately upon the closing of the business combination on  August 16, 2021 and initially reserved 514,681 shares of common stock for issuance thereunder. The Incentive Plan includes an evergreen provision that provides for an annual increase in the number of shares of common stock available for issuance thereunder beginning on  January 1, 2022 and ending on  January 1, 2032, equal to 5% of the shares of the Company’s common stock outstanding on  December 31, 2021 for the first year and by 3% of the total number of shares of common stock outstanding on  December 31 of the preceding calendar year for each year thereafter, or a lesser number of shares as determined by the Board of Directors.