Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans

v3.24.1
Employee Benefit Plans
 12 Months Ended
Sep. 30, 2023
Employee Benefit Plans [Abstract]  
Employee Benefit Plans Note 17 – Employee Benefit Plans

Effective January 1, 2018, the Company established a 401(k) plan in which substantially all U.S. employees are eligible to participate. Contributions made by employees are limited to the maximum allowable for U.S. federal income tax purposes. The Company matches employee contributions at a rate of 100% of applicable contributions up to 6% of included compensation. Company contributions to the 401(k) plan were approximately $616,000 and $461,000 for the years ended September 30, 2023 and 2022, respectively.

In March 2014, the Company elected to contribute 3% of eligible employee compensation into the personal pension schemes of certain senior U.K. employees. Effective January 1, 2019, this contribution amount was increased to 4%. Company contributions were approximately $29,000 and $41,000 for the years ended September 30, 2023 and 2022, respectively.