Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plan

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Employee Benefit Plan
 6 Months Ended
Jun. 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 $42,165 and $159,506 for the three and six months ended June 30, 2023, respectively. The Company’s cost for the 401(k) plan was $84,121 and $162,311 for the three and six months ended June 30, 2022, respectively.