RETIREMENT PLANS

12 Months Ended

Dec. 31, 2025

401(k) plan and other defined contribution plans

The Company maintains a defined contribution retirement plan for eligible employees under Section 401(k) of the Internal Revenue Code. Participants can make voluntary contributions up to the Internal Revenue Service limit of $23,500 ($31,000 for employees 50 years old or over) for 2025. The Company’s United Kingdom-based subsidiary, Lifetime Brands Europe Limited, maintains a defined contribution pension plan.

Retirement benefit obligations

The Company assumed retirement benefit obligations, which are paid to certain former executives of a business acquired in 2006. The obligations under the agreements with these former executives are unfunded and amounted to $4.7 million at December 31, 2025 and $4.7 million at December 31, 2024.

The discount rate used to calculate the retirement benefit obligations was 5.07% at December 31, 2025 and 5.35% at December 31, 2024. The retirement benefit obligations are included in accrued expenses and other long-term liabilities.

The Company expects to recognize less than $0.1 million of actuarial losses included in accumulated other comprehensive loss in net periodic benefit cost in 2026.

Expected benefit payments for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in thousands):

Year ending December 31,



2026	$	354
2027	350
2028	345
2029	340
2030	335
2031 through 2035	1,570