VLDR - VLDR STOCK NEWS

David Hall, the largest holder of Velodyne Lidar's common stock, announced the preliminary results of the 2021 Annual Meeting, highlighting the election of Eric Singer to the Board of Directors. Hall emphasized the need for accountability, criticizing the Board’s recent disregard for stockholder interests. Singer aims to enhance governance and restore stockholder value through his extensive experience with tech companies. He expressed gratitude for stockholder trust and commitment to fostering accountability and innovation at Velodyne. Final results will be certified by the inspector of elections.

Velodyne Lidar (Nasdaq: VLDR) is set to join the Russell 2000 Index, effective June 28, 2021, marking a significant achievement as the first public pure-play lidar company. This inclusion, which also extends to growth and value indexes, underscores the company's leadership in the lidar sector. Approximately $10.6 trillion in assets utilize Russell indexes, widely regarded for benchmarking by institutional investors. CEO Anand Gopalan emphasized that this milestone reflects Velodyne’s innovation in sensor and software technologies, poised to transform various industries.

Velodyne Lidar (Nasdaq: VLDR) announced that Seabed B.V. has selected its Puck™ sensors for a mobile lidar mapping system designed for offshore surveying. This system can provide high-quality, 3D data in harsh maritime conditions, enabling efficient hydrographic surveys. It delivers real-time data for structural inspections and supports sustainable planning to protect marine environments. The Puck sensor is noted for its reliability and energy efficiency, making it suitable for demanding applications.

David Hall, owning 52.2% of Velodyne Lidar's stock, has called for the resignation of several board members, including CEO Anand Gopalan, citing a lack of shareholder value and strategic direction. He highlights a 50% decline in stock price since his removal as chairman and accuses the board of fostering an anti-stockholder culture. Hall emphasizes that Gopalan's leadership has led to revenue declines and mismanagement, arguing for a change to restore value and a coherent strategic plan for the company.

Velodyne Lidar (Nasdaq: VLDR) announced that CFO Drew Hamer has been named a finalist for the Bay Area CFO of the Year Awards. Hamer was recognized for his pivotal role in raising $70 million from investors and guiding Velodyne through the COVID-19 crisis, including a SPAC merger that raised $419 million, fully capitalizing the company's balance sheet. Under his leadership, Velodyne has established robust financial processes and governance to support growth as a leader in lidar technology.

Velodyne Lidar (Nasdaq: VLDR) announced the expansion of its digital learning series Velodyne Lidar LIVE! with new episodes and the addition of auto industry expert Charlie Vogelheim as a co-host. The series will now feature two episodes per month to accommodate audience interest in autonomous solutions for safe mobility and smart communities. Upcoming discussions will include topics like self-driving vehicle deployment and the role of lidar in enhancing public services. Velodyne continues to lead in lidar technology for various industries.

Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW) will participate in key conferences in June 2021, featuring CEO Dr. Anand Gopalan and CFO Drew Hamer. Important events include:

• Craig-Hallum Annual Institutional Investor Conference: June 2
• Needham Virtual Automotive Tech Conference: June 8 at 12:30pm EDT
• UBS Global Industrials Conference: June 9 at 3:00pm EDT
• Baird Global Consumer & Technology Conference: June 10 at 2:35pm EDT
• Deutsche Bank Global Auto Industry Conference: June 16 at 4:30pm EDT
• Credit Suisse Mobility Start-up Forum: June 22

A webcast will be available on Velodyne’s investor relations site.

Velodyne Lidar (NASDAQ: VLDR) issued a response to David Hall and Marta Thoma Hall's recent filing. The company, a leader in lidar technology, reported $95 million in revenue from 11,710 units sold in 2020. Velodyne continues to innovate, demonstrating a 51% increase in projects, and shipped over 2,600 sensors in Q1 2021. The Board emphasizes strong corporate governance, having added diverse members and investigated the Halls for inappropriate behavior. Velodyne supports Hamid Zarringhalam’s candidacy for the Board, while opposing Eric Singer's nomination due to concerns about his independence.