Defined Contribution Plan

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Defined Contribution Plan

Defined Contribution Plan

We sponsor a defined contribution retirement plan (the “401(k) Plan”) under section 401(k) of the Internal Revenue Code to assist all full-time employees in providing for retirement or other future financial needs. Employees are eligible to participate in the 401(k) Plan on their date of hire. As of January 2021, the Company reinstated the Plan's matching contributions to 100% of the first 3% of compensation deferred by the participant. As of July 2021, the Company increased the Plan's matching contributions to 100% of the first 6% of compensation deferred by the participant.

We expensed approximately $6 million, $6 million, and $2 million for the years ended December 31, 2023, 2022, and 2021, respectively, under the provisions of the 401(k) Plan.