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Employee Benefits
12 Months Ended
Jun. 30, 2023
Employee Benefits  
Employee Benefits

14. 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 50%, up to first 5% of each participant’s contribution. The Company expensed $7.7 million, $6.1 million and $3.8 million during the years ended June 30, 2023, 2022 and 2021, respectively, under the 401(k) Plan.