EMPLOYEE BENEFIT PLANS |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| EMPLOYEE BENEFIT PLANS [Abstract] | |
| EMPLOYEE BENEFIT PLANS | 17. EMPLOYEE BENEFIT PLANS
The Company amended and restated its Koss Employee Stock Ownership Trust (“KESOT”) effective July 1, 2023 and received approval from the Board of Directors on July 26, 2023. Substantially all domestic employees are participants in the KESOT under which an annual contribution in either cash or common stock may be made at the discretion of the Board of Directors. All contributions to date have been fully allocated to employees’ company contribution accounts. No contributions were made for the years ended June 30, 2026 or 2025.
The Company maintains a retirement savings plan under Section 401(k) of the Internal Revenue Code. This plan covers all employees of the Company who have completed one full fiscal quarter of service. Matching contributions can be made at the discretion of the Board of Directors. For fiscal years 2026 and 2025, the matching contribution was 25% of employee contributions to the plan. Vesting of Company contributions occurs immediately. Company contributions were $83,750 and $79,240 during 2026 and 2025, respectively. |