Benefit Plan

12 Months Ended

Dec. 31, 2020

Benefit Plan [Abstract]

Benefit Plan

Benefit Plan

Lexicon maintains a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code.  The plan covers substantially all full-time employees.  Participating employees may defer a portion of their pretax earnings, up to the Internal Revenue Service annual contribution limit.  Beginning in 2000, the Company was required to match employee contributions according to a specified formula.  The matching contributions totaled $0.9 million, $1.2 million and $1.0 million in the years ended December 31, 2020, 2019 and 2018, respectively.  Company contributions are vested based on the employee’s years of service, with full vesting after four years of service.