Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plan

Employee Benefit Plan
12 Months Ended
May 31, 2021
Postemployment Benefits [Abstract]  
Employee Benefit Plan

Note 15. Employee Benefit Plan

The Company has an employee savings plan (the “401(k) Plan”) pursuant to Section 401(k) of the Internal Revenue Code (the “Code”), covering all employees. The Company makes a qualified non-elective contribution of 3%, which vests immediately. In addition, participants in the 401(k) Plan may contribute a percentage of their compensation, but not greater than the maximum allowed under the Code. During the year ended May 31, 2021, May 31, 2020 and May 31, 2019, the Company incurred an expense of approximately $0.7 million, $0.1 million, and $0.1, million respectively, for qualified non-elective contributions.