Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plan

v3.23.3
Employee Benefit Plan
 9 Months Ended
Sep. 30, 2023
Employee Benefit Plan [Abstract]  
Employee Benefit Plan

14. Employee Benefit Plan

 

Nauticus offers a 401(k) plan which permits eligible employees to contribute portions of their compensation to an investment trust.  The Company makes contributions to the plan totaling 3% of employees’ gross salaries and such contributions vest immediately.  The 401(k) plan provides several investment options, for which the employee has sole investment discretion.  The Company’s cost for the 401(k) plan was $103,446 and $262,952 for the three and nine months ended September 30, 2023, respectively. The Company’s cost for the 401(k) plan was $89,854 and $252,166 for the three and nine months ended September 30, 2022, respectively.