Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plans

v3.22.2
Employee Benefit Plans
6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit PlansThe Company maintains a retirement savings plan, established pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended (the Code). Participants may contribute up to applicable annual Code limits. The plan allows the Company to make matching contributions to eligible participants. The Company provided a matching contribution up to 4% of eligible participants’ compensation for the three and six months ended June 30, 2022 and 2021. The plan provides for automatic salary deferrals of 5% of compensation each year. Participants are permitted to change their salary deferral percentage and waive the automatic deferral provision. All participants’ deferrals, rollovers and matching contributions are 100% vested when contributed. The Company recognized $0.9 million and $0.7 million in expenses related to the 401(k) match for the three months ended June 30, 2022 and 2021, respectively, and $1.8 million and $1.5 million for the six months ended June 30, 2022 and 2021, respectively.