XML 43 R19.htm IDEA: XBRL DOCUMENT v3.19.1
Defined Contribution Plans
12 Months Ended
Dec. 31, 2018
Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract]  
Defined Contribution Plans

12. Defined Contribution Plans

In July 2013, the Company established a Savings Incentive Match Plan (the “SIMPLE IRA plan”) for its employees, allowing for both employee and employer contributions for those employees who meet defined minimum age and service requirements. The SIMPLE IRA plan allows participants to defer a portion of their annual compensation on a pretax basis. During the years ended December 31, 2017 and 2016, the Company made contributions to the SIMPLE IRA plan of $0.1 million and $59,000, respectively.

In January 2018, the Company terminated and replaced the SIMPLE IRA with a defined contribution plan under Section 401(k) of the Internal Revenue Code (the “401(k) plan”). The 401(k) plan covers all employees who meet defined minimum age and service requirements. Employee contributions are voluntary and are determined on an individual basis, limited to the maximum amount allowable under U.S. federal tax regulations. The Company makes matching contributions of up to 4% of the eligible employees’ compensation to the 401(k) plan. During the year ended December 31, 2018, the Company made contributions to the 401(k) plan of $0.3 million.