AEye, Inc. (LIDR): Nasdaq/NYSE listing notice — AEye receives Nasdaq delisting notice after audit committee vacancy from director resignation

AEye, Inc.

Received Nasdaq notice on Sep 13, 2023 for non-compliance with Listing Rule 5605 (independent audit committee).
Audit committee fell below three members after Wen H. Hsieh resigned effective Aug 15, 2023.
Cure period until earlier of next annual meeting or Aug 15, 2024 (or Feb 12, 2024 if meeting early).
No immediate effect on listing; common stock continues trading under LIDR.
Company plans to use cure period and evaluate board composition to regain compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

AEye, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605, 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605, 5605(c)(4)

Exact text from the filing

September 13, 2023, AEye, Inc. (the “Company”) received a notice (the “Notice”) from The Nasdaq Stock Market LLC (the “Nasdaq”) stating that, as a result of the previously disclosed resignation of Wen H. Hsieh from the Board of Directors of the Company (the “Board”) and the Audit Committee of the Board (the “Audit Committee”), effective August 15, 2023, the Company is no longer in compliance with Nasdaq Listing Rule 5605, which, in relevant part, requires the Audit Committee to consist of at least three members, each of whom must be an independent director under the Nasdaq Listing Rules and me

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AEye, Inc. filing history →

Source: SEC EDGAR

accession 0000947871-23-000938

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