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Note 8 - Employee Benefit Plan
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Compensation and Employee Benefit Plans [Text Block]

8. Employee Benefit Plan

 

The Psychemedics Corporation 401(k) Savings and Retirement Plan (the “401(k) Plan”) is a qualified defined contribution plan in accordance with Section 401(k) of the Internal Revenue Code. All employees over the age of 21 are eligible to make pre-tax contributions up to a specified percentage of their compensation. Under the 401(k) Plan, the Company may, but is not obligated to, match a portion of the employees’ contributions up to a defined maximum. Matching contributions of zero, zero, and $198 thousand were made in the years ended December 31, 2022, 2021 and 2020, respectively.