EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2023

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

7. EMPLOYEE BENEFIT PLANS

The Company has a savings plan that qualifies under Section 401(k) of the Internal Revenue Code (“IRC”). Participating employees may elect to contribute a percentage of their salary, subject to certain limitations. The Company contributes 50% of the participant's contribution, up to 4% of the participant's compensation, as a matching contribution. Total match contributions (in thousands) by the Company for the years ended December 31, 2023 and 2022 were approximately $248 and $225, respectively.