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Employee Benefit Plans
9 Months Ended
Sep. 30, 2024
Employee Benefit Plans  
Employee Benefit Plans

(16) Employee Benefit Plans

Employee Stock Purchase Plan

The Company has an employee stock purchase plan (the “ESPP”), under which the Company is authorized to issue 200,000 shares of Class A Common Stock. At September 30, 2024 and December 31, 2023, the Company had approximately 117,000 and 141,000 shares, respectively, of Class A Common Stock which remain available for issuance under the ESPP. Generally, all full-time employees who have been employed by Inspirato for at least six months are eligible to participate in the ESPP. Employee stock purchases are made through payroll deductions. The ESPP consists of six-month offering periods during which employees may enroll in the plan. The purchase price on each purchase date shall not be less than eighty-five percent (85%) of the lesser of (a) the fair market value of a share of stock on the offering date of the offering period or (b) the fair market value of a share of stock on the purchase date. During the three and nine months ended September 30, 2024, there were no and 24,000, respectively, employee purchases of Class A Common Stock through the ESPP. During both the three and nine months ended September 30, 2023, there were no employee purchases of Class A Common Stock through the ESPP.

401(k) Employee Savings Plan

The Company sponsors a defined contribution 401(k) plan that covers substantially all employees. During both the three and nine months ended September 30, 2024, the Company made no matching contributions. During the three and nine months ended September 30, 2023, the Company matched $0.2 million and $1.1 million, respectively.