Note 15 - Benefit Plan

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Retirement Benefits [Text Block]

NOTE 15.  Benefit Plan

The Company provides a tax-qualified employee savings and retirement plan commonly known as a 401(k) plan (the “Plan”), which covers the Company’s eligible employees. Pursuant to the Plan, employees may elect to defer their current compensation up to the IRS annual contribution limit of $19,500 for calendar years 2021 and 2020, up from $19,000 for 2019. Employees age 50 or over may elect to contribute an additional $6,500 annually for 2021 and 2020, up from $6,000 for 2019.

Employees direct their contributions, which vest immediately, across a series of mutual funds. In the years ended December 31, 2021, 2020 and 2019, the Company matched employee contributions up to 3% of each employee’s eligible earnings, vesting immediately. The Company’s matching contributions totaled $288,000, $96,000 and $140,000 in the years ended December 31, 2021, 2020 and 2019, respectively. The costs of administering the Plan totaled $14,000, $10,000 and $14,000 in the years ended December 31, 2021, 2020 and 2019, respectively.