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RETIREMENT PLAN
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
RETIREMENT PLAN

(12) RETIREMENT PLAN

 

The Company has a 401(k) retirement savings plan (the “401(k) Plan”) for employees. Under the 401(k) Plan, the Company matches 25% of an employee’s contribution, up to a maximum of $350 per employee per year. The Company matching contributions charged to expense were $23 thousand and $11 thousand in fiscal 2021 and fiscal 2020, respectively.

  

On February 1, 2021, the Zoom Connectivity 401(k) Plan merged into the Minim 401(k) Plan.

 

On November 28, 2021, the Company amended the 401(k) Plan to increase the Company match to an amount not to exceed 3% of an employee’s contribution. This amendment becomes effective January 1, 2022.