Annual report pursuant to Section 13 and 15(d)

401k Savings Plan

v3.20.1
401k Savings Plan
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
401k Savings Plan
12. 401k Savings Plan
In 2010, the Company established a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code (the 401(k) Plan). The 401(k) Plan covers all employees who meet defined minimum age and service requirements, and allows participants to defer a portion of their annual compensation on a
pre-tax
basis. During 2015, the Company established an employer matching program for participants in the 401(k) Plan. The Company incurred approximately $117,000, $104,000 and $100,000 of expense for matching contributions to the 401(k) Plan during the years ended December 31, 2019, 2018 and 2017, respectively.