Annual report pursuant to Section 13 and 15(d)

Defined Contribution Plan

v3.22.0.1
Defined Contribution Plan
12 Months Ended
Dec. 31, 2021
Text Block [Abstract]  
Defined Contribution Plan
NOTE 17. DEFINED CONTRIBUTION PLAN
We maintain a 401(k) defined contribution plan (“401(k) Plan”), which covers eligible employees as defined in the 401(k) Plan. Participants are allowed to make
non-forfeitable
contributions
 
of up to 60% of their annual salary but may not exceed the annual maximum contribution limitations established by the Internal Revenue Service. The company match was 50% on the first 5% of the amounts contributed by each participant. The company match was suspended in March 2020 to reduce costs and conserve cash as a result of the economic impact of the
COVID-19
pandemic. The company contributed and expensed $0.8 million into the 401(k) Plan during the year ended December 31, 2020.