XML 39 R19.htm IDEA: XBRL DOCUMENT v3.25.0.1
Other Employee Benefits
12 Months Ended
Dec. 31, 2024
Postemployment Benefits [Abstract]  
Other Employee Benefits Other Employee Benefits
The Company has established a tax deferred 401(k) retirement plan that provides retirement benefits to its eligible employees. Participants may elect to contribute up to 60% of their gross annual earnings not to exceed ERISA and Internal Revenue Service limits. The plan provides for Company discretionary profit-sharing contributions at matching percentages. The Company made discretionary contributions to the plan of $6.2 million, $6.3 million, and $6.4 million for the years ended December 31, 2022, 2023, and 2024, respectively.
The Company has established the ESPP with quarterly enrollment periods. Eligible participants may only enter the plan and establish their withholdings at the start of an enrollment period. Participating employees may withdraw from the plan and end payroll deductions at any time up to five days before the share purchase date and funds will be returned to them. Under the ESPP, participating employees may purchase shares of the Company’s common stock, subject to certain limitations, at 85% of its fair market value on the last day of the quarterly period. The total value of contributions per participant may not exceed $21,000 annually or the value of the common stock purchased per participant cannot exceed $25,000. In 2014, 2020, and again in 2023, the Company’s stockholders approved amendments to the plan increasing the number of shares available for purchase by participating employees and extended the term of the ESPP. Effective December 31, 2023, the Company elected to suspend the ESPP. Beginning January 1, 2024, eligible employees may no longer purchase shares of the Company’s common stock through the ESPP until such time as the Company reinstates the plan.
Shares purchased in the open market for issuance to employees pursuant to the plan for the years ended December 31, 2022, and 2023, were as follows:

Purchase DateSharesCommon Stock
Fair Value
Purchase PriceCompensation Expense
March 31, 20229,112 $21.24 $18.05 $29,031 
June 30, 202212,380 $16.16 $13.74 $30,009 
September 30, 202223,407 $9.14 $7.77 $32,091 
December 31, 202215,947 $12.86 $10.93 $30,762 
Total/Weighted Average60,846 $13.36 $11.35 $121,893 
March 31, 202320,002 $5.42 $4.61 $16,262 
June 30, 202341,729 $4.74 $4.03 $29,669 
September 30, 202334,332 $4.71 $4.00 $24,256 
December 31, 202316,488 $9.96 $8.47 $24,633 
Total/Weighted Average112,551 $5.62 $4.77 $94,820