Adjustable drip tray for a dispensing assembly

A dispensing assembly for an appliance, the dispensing assembly defining a vertical direction, a lateral direction, and a transverse direction, the dispensing assembly comprising:

• a dispenser for dispensing ice or a beverage;
• a mounting panel positioned below the dispenser, the mounting panel defining a sliding pocket and a locking indentation within the sliding pocket;
• and
• a tray assembly movably mounted to the mounting panel, the tray assembly comprising:
• a drip tray defining a support surface and a locking flange for receipt within the sliding pocket;
• and
• a plunger mechanism movably mounted to the drip tray and being configured for moving between an engaged position where a locking pin of the plunger mechanism engages the locking indentation to lock the drip tray in position along the vertical direction and a disengaged position where the locking pin is retracted such that the drip tray is movable along the vertical direction.