Benefit Plans

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Benefit Plans

7. BENEFIT PLANS

401(k) Plan

We maintain a 401(k) Plan (the “401(k) Plan”) in which substantially all of our employees are eligible to participate. The 401(k) Plan permits eligible participants, as defined in the 401(k) Plan agreement, to defer up to 30% of their compensation, and we, at our discretion, may match a specified percentage of the employees’ contributions. Our and our employees’ contributions are fully vested, as defined in the 401(k) Plan agreement. Our contributions to the 401(k) Plan were $0.7 million and $0.7 million for the years ended December 31, 2021 and 2020, respectively.

Supplemental Retirement Plans

We maintained Supplemental Retirement Plans (the “Supplemental Plans”) covering certain senior management employees. The Supplemental Plans were terminated in 2021 and no further contributions will be made. The portion of the Supplemental Plans account balances attributable to post-2004 contributions and the related earnings will be paid in 2022. There were no expenses under the provisions of the Supplemental Plans for the year ended December 31, 2021. Expenses under the provisions of the Supplemental Plans were $0.2 million for the year ended December 31, 2020.

Employee Share Purchase Plan

We maintain a share purchase plan through which our employees may purchase common shares at a 15% discount to the fair market value (as defined therein). In the year ended December 31, 2020, approximately 59,000 shares were purchased for total consideration of $10 thousand. We recorded expense of less than $48 thousand for the year ended December 31, 2020 related to the share purchase plan. We suspended our Employee Share Purchase Plan effective as of September 25, 2020 and it remained suspended throughout 2021.