Annual report pursuant to Section 13 and 15(d)

Benefit Plan

v3.21.1
Benefit Plan
12 Months Ended
Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]  
Benefit Plan

 

Note 17. Benefit Plan

The Company sponsors a 401(k) plan to provide defined contribution retirement benefits for all eligible employees. Participants may contribute a portion of their compensation to the plan, subject to the limitations under the Internal Revenue Code. The Company is allowed to make 401(k) matching contributions as defined in the plan and as approved by the Board. The Company matched 50% of employee contributions made during 2020 up to a maximum of 2% of compensation; the match will be deposited to the employees’ 401(k) accounts in 2021. During the year ended December 31, 2020 the Company recorded $0.2 million of matching contribution expense. During the year ended December 31, 2019 the Company recorded $0.2 million of matching contribution expense. There was

no matching contribution expense related to the year ended December 31, 2018. These matching contributions are subject to additional vesting criteria.