Retirement Savings Plan

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

RETIREMENT SAVINGS PLAN

RETIREMENT SAVINGS PLAN

The Company maintains a defined contribution plan (the “Retirement Savings Plan”) pursuant to Section 401 of the Internal Revenue Code (the “Code”) which covers active regular employees. Employees are eligible to participate in the Retirement Savings Plan immediately upon hire, and pre-tax contributions are allowed up to the limits set by the Code. The Company contributes 3% of an employee's eligible compensation to the plan, which is fully vested after the employee has been with the Company for two years. The Company may change this percentage at its discretion; and, in addition, the Company could decide to make discretionary contributions in the future. The Company contributed $1.1 million, $1.0 million, and $1.0 million to the Retirement Savings Plan for the 2023, 2022, and 2021 plan years, respectively.