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401(k) Savings Plan
12 Months Ended
Dec. 31, 2020
401(k) Savings Plan  
401(k) Savings Plan

13. 401(k) Savings Plan

The Company has a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code of 1986, as amended (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 pretax basis. Effective in 2017, the Company will provide a 200% match of employee contributions up to a limit on the Company’s contributions of the lesser of $6,000 and 3% of the employee’s salary. The Company made $1.1 million, $0.8 million, and $0.7 million in contributions to the 401(k) Plan for the years ended December 31, 2020, 2019 and 2018, respectively.