Note 19 - Employee Retirement Programs |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 | |||
| Notes to Financial Statements | |||
| Retirement Benefits [Text Block] |
The Company established its Ethan Allen Retirement Savings Plan (the “401(k) Plan”) in 1994. The 401(k) Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 (“IRC”). All full-time U.S. employees of the Company are eligible to participate in the Plan on the first day of employment. Each year, participants may contribute up to 100% of their eligible annual compensation, subject to annual limitations established by the IRC. We may, at our discretion, make matching and profit-sharing contributions to the 401(k) Plan on behalf of each eligible participant. All participants shall cliff vest 100% of Company-matching and profit-sharing contributions received after years of service. Total defined contribution plan expense incurred by the Company in matching and profit-sharing contributions to employee 401(k) accounts during fiscal 2025, 2024 and 2023, was $2.3 million, $2.3 million and $2.7 million, respectively.
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