RETIREMENT PLAN

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

RETIREMENT PLAN

11. RETIREMENT PLAN

The Company has a retirement savings 401(k) plan. The plan permits eligible employees to make voluntary contributions to a trust, up to a maximum of 35% of compensation, subject to certain limitations. The Company has elected to contribute a matching contribution equal to 50% of the first 6% of an eligible employee’s deferral election. The Company may also make discretionary contributions, subject to certain conditions, as defined in the plan. The Company’s matching contributions were $98 and $70 for 2021 and 2020, respectively. The plan assets were approximately $3.7 million and $3.0 million at December 31, 2021 and 2020, respectively.