401(k) Profit-Sharing Plan

12 Months Ended

Dec. 31, 2017

401(k) Profit-Sharing Plan [Abstract]

401(k) Profit-Sharing Plan

15. 401(k) Profit‑Sharing Plan

In October 2011, the Company began sponsoring a qualified Tax Deferred Savings Plan (401(k)) for all eligible employees of the Company and its subsidiaries. Participation in the plan is voluntary. Participating employees may defer up to 75% of their compensation up to the maximum prescribed by the Internal Revenue Code. The Company has an obligation to match non‑highly compensated employee contributions of up to 6% of deferrals and also has the option to make discretionary matching contributions and profit sharing contributions to the plan annually, as determined by the Company’s board of directors. The plan’s effective date is October 1, 2011 and incorporates funds converted from the Kadmon Pharmaceuticals Profit Sharing Plan.

The Company expensed employer matching contributions of $0.2 million, $0.3 million and $0.3 million for the years ended December 31, 2017, 2016 and 2015, respectively. The Company made disbursements of $0.3 million in each of the years ended December 31, 2017 and 2016. The Company typically disburses employer matching contributions during the first quarter following the plan year.