Annual report pursuant to Section 13 and 15(d)

Defined Contribution Plan

v3.23.4
Defined Contribution Plan
 12 Months Ended
Oct. 01, 2023
Retirement Benefits [Abstract]  
Defined Contribution Plan

Note 10 — Defined Contribution Plan

 

The Company sponsors a defined contribution pension plan under Section 401(k) of the Internal Revenue Code for all employees. Company contributions are voluntary and are determined annually at the discretion of the Board of Directors at the beginning of each fiscal year. For the fiscal years ended October 1, 2023 and October 2, 2022, the Company offered a qualified automatic contribution arrangement (QACA) with a 100% match of the first 1% and 50% matching of the next 5% and a 2-year vesting requirement. The Company’s contribution expense for the fiscal years ended October 1, 2023 and October 2, 2022 were $163 thousand and $155 thousand, respectively.