Elastic NV
For the period ended Apr 30, 2024. Filed Jun 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Jun 14, 2024
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Employee Benefit Plans
- Employee Benefit Plans
The Company has a defined-contribution plan in the United States intended to qualify under Section 401 of the Internal Revenue Code (the “401(k) Plan”). The Company has contracted with a third-party provider to act as a custodian and trustee, and to process and maintain the records of participant data. Substantially all the expenses incurred for administering the 401(k) Plan are paid by the Company. The 401(k) Plan covers substantially all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. The Company makes contributions to the 401(k) Plan of up to 6% of the participating employee’s W-2 earnings and wages. The Company recorded $18.4 million, $17.9 million, and $15.2 million of expense for the years ended April 30, 2024, 2023, and 2022, respectively related to the 401(k) Plan.
The Company also has defined-contribution plans in certain other countries for which the Company recorded $12.7 million, $9.4 million, and $7.2 million of expense for the years ended April 30, 2024, 2023, and 2022, respectively.
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