Defined-Contribution Savings Plan

12 Months Ended

Dec. 31, 2023

Defined-Contribution Savings Plan

Defined-Contribution Savings Plan

15. Defined-Contribution Savings Plan

The Company sponsors an employee retirement plan (the “401(k) Plan”) that provides certain eligible employees of the Company an opportunity to accumulate funds for retirement. The Company provides matching contributions on a discretionary basis. During the years ended December 31, 2023, 2022 and 2021, the Company recognized expense of $2.6 million, $3.2 million and $1.5 million, respectively, for matching contributions to the 401(k) Plan.