Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 10, 2023, the Board of Directors of AEye, Inc. (the "Company")
appointed Tirukkur R. "TR" Ramachandran, age 52, the Company's Chief Operating
Officer, as the Company's principal operating officer.
Mr. Ramachandran joined the Company in November of 2021 as Chief Product
Officer. Prior to his employment with the Company, Mr. Ramachandran held key
leadership roles at two other companies in the lidar industry. He was Executive
Vice President of Marketing and Chief Marketing Officer at Cepton, Inc. between
2019 and 2021, and Vice President of Product Management at Velodyne Lidar, Inc.
between 2017 and 2019. Prior to Velodyne Lidar, Mr. Ramachandran worked in other
high-tech companies, including ultimately serving as Vice President, Corporate
Quality and Program Management, at LSI Corp. until 2014, when LSI Corp. was
acquired by Avago Technologies, now Broadcom Inc. Mr. Ramachandran brings a
diverse experience base to the Company, ranging from his depth of knowledge and
success in the lidar industry, to launching numerous high-volume, technology
products to market across different industries, to overseeing new product
introduction and quality for a $2+ billion business. He brings over 24 years of
experience delivering market-leading solutions across SoCs, software, and
systems, along with strong automotive market experience in the lidar industry,
including partnering with several Tier 1 automotive suppliers. Mr. Ramachandran
holds a Ph.D. in Materials Science from the University of Southern California,
where he focused on InGaAs optoelectronic systems, as well as scanning
probe-based imaging and nanotechnology. He received a B. Tech. in
Metallurgical/Materials Engineering from the Indian Institute of Technology
(IIT), Madras.
In anticipation of naming Mr. Ramachandran as the Company's principal operating
officer, Mr. Ramachandran's annual salary was increased to $385,000, his annual
bonus target was set at 65% of base salary, and he was awarded 500,000
restricted stock units pursuant to the Company's 2021 Equity Incentive Plan,
which will vest quarterly over three years commencing on February 15, 2023.
There is no arrangement or understanding between Mr. Ramachandran and any other
person pursuant to which Mr. Ramachandran was to be selected as an officer of
the Company that would require disclosure under Item 401(b) of Regulation S-K.
Additionally, there is no family relationship between Mr. Ramachandran and any
other person that would require disclosure under Item 401(d) of Regulation S-K.
Mr. Ramachandran is not a party to any transactions that would require
disclosure under Item 404(a) of Regulation S-K.
Item 9.01. Financial Statement and Exhibits.
(d) Exhibits.
Exhibit Number Description
104 Cover Page Interactive Data File (formatted as Inline XBRL and
contained in Exhibit 101).
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