Company: LIDRW
Filing Date: 2025-05-14
Form Type: DFAN14A
Source: 0001999371-25-006020
Chunk: 1

Company: AEye, Inc.
Filing Date: 2025-05-14
Form: DFAN14A
Chunk 1
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 solicitation, the company's definitive proxy (filed April 7) stated the board had six directors, with two seats up for election. Then, during the active shareholder voting period - and without any public disclosure at the time - the Board quietly expanded itself to seven members and appointed a new director. Concerned that shareholders were being asked to vote on board composition and governance proposals without knowing the board had already changed, I immediately filed a whistleblower complaint with the SEC. Shortly after that, AEye released a revised proxy disclosing the board expansion and appointment. This new director: - Was not elected by shareholders, - Will not face a stockholder vote for at least a year under current bylaws, and - Was appointed during an active shareholder vote. The Board had a clear option: Wait just 2 more weeks to make the appointment - after the shareholder vote had concluded. BUT Instead, it acted mid - election and disclosed the change only after ballots had already been cast. There was no compelling justification to make this move during an active vote - except to entrench the current leadership. It may meet the letter of SEC filing deadlines - but it fails the test of stockholder - first aovernance . The board should be ashamed of itself.

111v11, uu1111::, \ .II \ ,,,,,, UV \ .IY \ ,,,,,, VIIUl \ ,,,,,,IIVIUVI VV \ .111:::, , - ..,v,1vu UIIU VYI \ .IIV \ ..41 \ . ......, public disclosure at the time - the Board quietly expanded itself to seven members and appointed a new director. Concerned that shareholders were being asked to vote on board composition and governance proposals without knowing the board had already changed, I immediately filed a whistleblower complaint with the SEC. Shortly after that, AEye released a revised proxy disclosing the board expansion and appointment. This new director: - Was not elected by shareholders, - Will not face a stockholder vote for at least a year under current bylaws, and - Was appointed during an active shareholder vote. The Board had a clear option: Wait just 2 more weeks to make the appointment - after the shareholder vote had concluded. BUT Instead, it acted mid - election and disclosed the change only after ballots had already been cast. There was no compelling justification to make this move during an active vote - except to entrench the current leadership. It may meet the letter of SEC filing deadlines - but it fails the test of stockholder - first