Company: LIDRW
Filing Date: 2025-04-21
Form Type: DEFC14A
Source: 0001104659-25-036915
Chunk: 11

Company: AEye, Inc.
Filing Date: 2025-04-21
Form: DEFC14A
Chunk 11
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 is depressing.

| 1) | Firing the team working an RFQ in the middle of negotiations. |

| 2) | Firing the CTO just before a reverse stock split. |

| 3) | Paying huge bonuses to the CEO while the Company is fiscally strapped. |

| 4) | Discontinuing revenue in the industrial sector and then restarting 15 months later, having realized what 
 an enormous mistake that had been.                                                                       |

| 5) | Diluting stockholders by 70% and opposing a stockholder’s recommendation to cap dilution. |

| 6) | Opposing declassification of the Board, a measure we believe was taken to entrench certain members of 
 the current Board.                                                                                    |

We are therefore soliciting
your support to elect the Founders Group Nominees at the Annual Meeting, who we believe will collectively bring highly applicable industry,
financial and corporate governance expertise into the boardroom to help drive improved performance and accountability– free from
conflicts of interest.

<div align='center'>We Believe AEye’s very poor performance is due to the composition of the board, and a lack of board members committed to the welfare of the stockholders</div>

We believe AEye possesses
valuable assets but has underperformed and is significantly undervalued principally due to board practices and management inefficiency
– which have directly led to poor investor sentiment and inferior decision making. The Board should be declassified and the Board’s
objection to the reasonable proposal by Founders Group is unsupportable. The Founders Group with your support will do everything possible
to declassify the Board. They will also seek to replace the Board Chairman and limit unnecessary dilution. Because of this massive and
unnecessary dilution, the board may have effected a change in control of the corporation without stockholder approval.

We are highly concerned that
the Board as currently composed does not have the objectivity and independence required to maximize value for all stockholders, instead
giving undue consideration to the CEO who remains the Board Chairman even though this is adverse to good governance.

Further driving our sense
of urgency, we believe the Company has an extraordinary opportunity today to sell within the Lidar markets. The Industrial market which
this Company abandoned in 2023 (at the direction of its CEO) is growing, AEye’s technology was then and is now capable of competing
in that market and generating revenue which is dearly needed. Even small wins will help drive the