Annual report [Section 13 and 15(d), not S-K Item 405]

401(k) Savings Plan

v3.25.1
401(k) Savings Plan
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
401(k) Savings Plan

13. 401(k) Savings Plan

The Company maintains a defined-contribution savings plan under Section 401(k) of the IRC, or the 401(k) Plan. The 401(k) Plan covers all employees who meet defined minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pretax basis. Effective January 1, 2020, the Plan provided for matching contributions on a portion of participant contributions pursuant to the 401(k) Savings Plan’s matching formula, up to 4% of eligible compensation. All matching contributions and participant contributions vest immediately. Contributions totaled $894 and $521 for the years ended December 31, 2024 and 2023, respectively, and have been recorded in the statements of operations.