Employee Benefits

12 Months Ended

Jun. 30, 2019

Employee Benefits

Employee Benefits

15. Employee Benefits

The Company maintains a 401(k) salary deferral plan (the “401(k) Plan”) for its employees. Employees who have been employed for at least 30 days may voluntarily contribute to the 401(k) Plan on a pretax basis, up to the maximum allowed by the Internal Revenue Service. The 401(k) Plan provides for a matching Company contribution of 25% of the first 4% of each participant’s compensation. The Company expensed $1.6 million, $1.4 million and $1.6 million during the years ended June 30, 2019, 2018 and 2017, respectively, under the 401(k) Plan.