Consumer Electronics Technology
AEye Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
By Business Wire
.png?ext=.png "Business Wire")
Share
DUBLIN, Calif.--(BUSINESS WIRE)--AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive, high-performance lidar solutions, today announced the grant of an inducement equity award to its newly appointed Chief Executive Officer, Matthew Fisch. The description of the grant was included in Mr. Fisch’s offer letter, described in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on February 1, 2023, and approved by the Company’s board of directors as a material inducement to Mr. Fisch entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
Mr. Fisch received, as an inducement grant for his employment, an incentive award of 5,000,000 service-based restricted stock units and 2,000,000 performance-based restricted stock units (collectively, the “RSUs”). The service-based RSUs will vest as follows: 500,000 on March 15, 2023, 1,125,000 on February 15, 2024 and then in equal installments over the next twelve (12) calendar quarters on the 15th day of the second month of each calendar quarter. The performance-based RSUs will vest quarterly over six (6) calendar quarters on the 15th day of the second month of each calendar quarter after the closing price of the Company’s common stock, as reported by NASDAQ (or other recognized national exchange on which the Company’s common stock is then traded), meets or exceeds $1.20 per share (adjusted for any stock splits or other corporate actions) for any ten (10) consecutive trading days prior to March 1, 2024. If such condition is not satisfied, the performance-based RSUs will be forfeited.
About AEye
AEye’s unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, logistics, and off-highway applications that save lives and propel the future of transportation and mobility. AEye’s 4Sight™ Intelligent Sensing Platform, with its adaptive sensor-based operating system, focuses on what matters most: delivering faster, more accurate, and reliable information. AEye’s 4Sight™ products, built on this platform, are ideal for dynamic applications which require precise measurement imaging to ensure safety and performance. AEye has a global presence through its offices in Germany, Japan, Korea, and the United States.
Contacts
Clyde Montevirgen
AEye, Inc.
cmontevirgen@aeye.ai
925-400-4366
First published on Tue, Feb 14, 2023
Liked what you read? That’s only the tip of the tech iceberg!
Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!
Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.
Dive into TechDogs' treasure trove today and Know Your World of technology like never before!
Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs' site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.
Tags:
- Promoted By TechDogs -
Join The Discussion