Annual report pursuant to Section 13 and 15(d)

401(k) Savings Plan

v3.22.4
401(k) Savings Plan
12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
401(k) Savings Plan

12. 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 $351 and $256 for the years ended December 31, 2022 and 2021, respectively, and have been recorded in the statements of operations.