Note 15 - Employee benefit plans

The Company has a qualified Salary Reduction Profit Sharing Plan (the “Plan”) for eligible U.S. employees under Section 401(k) of the Internal Revenue Code. The Plan provides for voluntary employee contributions through salary reduction and voluntary employer contributions at the discretion of the Company. For the years ended July 31, 2024 and 2023, the Company authorized employer matched contributions of 50% of the employees’ contribution, payable in Enzo Biochem, Inc. common stock.

The share-based 401(k) employer expense was approximately $600 and $880 in fiscal years 2024 and 2023, respectively. As of July 31, 2024 and 2023, the Company accrued a total of $248 and $263, respectively, in 401(k) matching contribution obligations within the accrued liabilities account.

The Company’s Swiss operation provides a Pillar 2 government sponsored defined benefit pension plan under the Swiss government’s social security system for Swiss employees (the “Swiss Plan”). Under the Swiss Plan, the Company and its employees are obligated to pay agreed upon amounts into the Swiss Plan at the same time. During the fiscal years ended July 31, 2024 and 2023, the Company contributed $335 and $182, respectively to the Swiss Plan.

Under Pillar 2 plans, the accumulated benefit balance of a former employee is transferred to their new employer or a government retirement account and the sponsoring company’s liability regarding its former employee is thereby released. The contract for the Company’s Swiss Plan automatically renews on its annual anniversary unless notice of termination is provided three months prior. The current contract will automatically renew on December 31, 2024. Currently, the Company has no plans to change the current funding or plan design. No events have occurred that would impact the Swiss Plan status.