Annual report [Section 13 and 15(d), not S-K Item 405]

EMPLOYEE BENEFIT PLAN

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EMPLOYEE BENEFIT PLAN
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
EMPLOYEE BENEFIT PLAN

NOTE 9 — EMPLOYEE BENEFIT PLAN

The Company maintains a defined contribution benefit plan (the “401(k) Plan”) for all eligible employees. The Company matches employee contributions 100% of each participant’s contribution up to a maximum of 6% of the participant’s eligible compensation, subject to limitations imposed by the IRC. The 401(k) Plan provides 100% vesting in Company match contributions on a pro rata basis over five years of service (20% per year). Expenses relating to the 401(k) Plan were $3.3 million, $2.9 million, and $2.4 million for 2024, 2023 and 2022, respectively.