Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plan

v3.8.0.1
Employee Benefit Plan
 12 Months Ended
Dec. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plan
11. Employee Benefit Plan
 
The Company administers a 401(k) retirement plan (the “401(k) Plan”) in which all employees are eligible to participate. Each eligible employee may elect to contribute to the 401(k) Plan. During the year ended December 31, 2016 the Company made no matching contributions.
 
In August 2017, the Company’s Board of Directors approved a match benefit to the 401(k) Plan in the form of shares of the Company’s common stock. The Company will make a matching contribution to the 401(k) Plan in an amount equal to 100% of each eligible employee’s elected deferral (up to the statutory limit) for the year ending December 31, 2017 and equal to 50% of each employee’s elected deferral for each year thereafter. The expense related to the contribution for the year ended December 31, 2017, was $509.