Company: LIDRW
Filing Date: 2025-04-21
Form Type: DEFC14A
Source: 0001104659-25-036915
Chunk: 10

Company: AEye, Inc.
Filing Date: 2025-04-21
Form: DEFC14A
Chunk 10
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 our proposals to recommend 
 a cap on the Company’s authorized shares, you can tell the Board that stockholders will no longer tolerate gross mismanagement            
 and excessive dilution.                                                                                                                   |

| · | Further, we believe that certain                                                                                                       
 members of the Board are considering granting a bonus to the CEO, despite the egregious dilution of stockholders that has taken place. 
 For us, this was the last straw, and we determined to solicit proxies from stockholders as a result.                                   |

<div align='center'>7

REASONS FOR THE SOLICITATION</div>

Founders Group started AEye,
led it from a private Company with a value of less than $3M to a public Company with a market capitalization of more than $1.3 billion.
The two board Nominees offered by the Company have since 2021 overseen a decline in market capitalization to approximately $11 million,
losing over 99% of its value. The Company is currently valued at about one-third of the cash it has in the bank and is less than one-tenth
of the value of the least valuable LIDAR Companies in the industry. Stockholders need only look at the Company’s precipitous decline
in value to determine that new leadership is needed.

Founders Group has made sincere
efforts over the course of the past fifteen (15) months to engage constructively with the Company regarding our concerns around the qualifications,
independence and conflicts of interest among members of the Board. We have also repeatedly stressed the opportunities we believe AEye
has for value creation. Unfortunately, the Company has been unwilling to even respond to over a half dozen letters and inquiries. The
Company has stonewalled review of Company records (never providing certain requested Board minutes) and has refused to investigate very
troubling issues surrounding the October/November 2023 firings.

In addition, the Chairman
of the Board remains the Company’s CEO. Matt Fisch is not a major stockholder of the Company. The board has kept him as Chairman
and continually rubber stamps his requests including giving him bonuses and paying him more than 15% of the Company’s value in 2024,
despite the Company’s abysmal performance. We believe a functioning Board would have replaced him long ago as Chairman. However,
it seems that the current Board is incapable of acting in the best interests of the stockholders.

In addition, the list of poor
to terrible management decisions over the past 15 months