Note 16 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

16.

EMPLOYEE BENEFIT PLANS

Retirement Savings and Profit Sharing Plans

Retirement Savings and Profit Sharing Plans

The Company offers a

401

(k) retirement savings plan to all eligible employees who

may

elect to contribute a portion of their salary on a pre-tax basis, subject to applicable statutory limitations. As of

December 31, 2020

, all employees were eligible to receive safe harbor matching contributions equal to

100%

of the

first

3%

of the participant's elective deferral contributions and

50%

of the next

2%

of the participant's elective deferral contributions. The Company has the discretion, subject to applicable statutory requirements, to fund any matching contribution with a contribution to the plan of the Company's common stock. The Company periodically evaluates whether to fund the matching contribution in cash or in the Company's common stock. Under the plan, elective deferrals and basic Company matching is

100%

vested at all times.

For the years ended

December 31, 2020

and

2019

, the Company recorded expense under these plans of approximately

$1,101

 and

$1,002,

respectively.

Deferred Compensation Plan

The Company maintains a deferred compensation plan for certain key employees and nonemployee directors, whereby certain wages earned, compensation for services rendered, and discretionary company-matching contributions

may

be deferred and deemed to be invested in the Company's common stock. Changes in the fair value of the plan liability are recorded as charges or credits to compensation expense. Compensation expense associated with the deferred compensation plan recorded during the years ended

December 31, 2020

and

2019

was

$56

 and

$3.

The fair value of the plan liability to the Company is included in accrued liabilities in the Company's consolidated balance sheets. As of

December 31, 2020

and

2019

, the fair value of plan liability to the Company was

$71

 and

$15,

respectively.

In addition to the employee benefit plans described above, the Company participates in certain customary employee benefits plans, including those which provide health and life insurance benefits to employees.