Quarterly report pursuant to Section 13 or 15(d)

Deferred Compensation Plan

v3.23.3
Deferred Compensation Plan
 9 Months Ended
Sep. 30, 2023
Deferred Compensation Plan [Abstract]  
Deferred Compensation Plan
12.
Deferred Compensation Plan

Effective October 1st, 2021, the Company began offering a 401(k) plan (“401K Plan”) to its employees. All employees are eligible to participate in the 401K Plan. The Company makes matching contributions equal to 100% on the first 3% of compensation that is deferred as an elective deferral and an additional 50% on the next 2% of compensation. The Company’s matching contributions are made on a payroll-by-payroll basis. During the three months ended September 30, 2023 and 2022, the Company contributed $21,000 and $17,000 to the 401K Plan, respectively. During the nine months ended September 30, 2023 and 2022, the Company contributed $77,000 and $62,000 to the 401K Plan, respectively.