CytoDyn Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plan

Employee Benefit Plan	9 Months Ended
Feb. 28, 2021
Postemployment Benefits [Abstract]
Employee Benefit Plan	Note 13. Employee Benefit Plan The Company has an employee savings plan (the “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 Plan may contribute a percentage of their compensation, but not greater than the maximum allowed under the Code. During the three and nine months ended February 28, 2021 and February 29, 2020, the Company incurred an expense of approximately $0.3 million and $0.5 million and $30,000 and $75,000, respectively, for qualified non-elective contributions.

Employee Benefit Plan

9 Months Ended

Feb. 28, 2021

Note 13. Employee Benefit Plan

The Company has an employee savings plan (the “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 Plan may contribute a percentage of their compensation, but not greater than the maximum allowed under the Code. During the three and nine months ended February 28, 2021 and February 29, 2020, the Company incurred an expense of approximately $0.3 million and $0.5 million and $30,000 and $75,000, respectively, for qualified non-elective contributions.