Item 1.02 Termination of a Material Definitive Agreement.
On May 2, 2023, Applied Molecular Transport Inc. (the "Company") entered into
(i) the Third Amendment to Lease (the "Amendment") and (ii) an Agreement for
Modification of Lease and Voluntary Surrender of Premises (the "Agreement" and
together with the Amendment, the "Lease Termination Agreements") with ARE-East
Jamie Court, LLC, a Delaware limited liability company ("Landlord") with respect
to the Company's lease (the "Lease") of its headquarters at 450 East Jamie
Court, South San Francisco, California (the "Premises"). The Amendment provides
that the Lease with respect to the portion of the Premises consisting of the
entire third floor terminated on March 31, 2023. The Agreement provides that the
Lease with respect to the remainder of the Premises will terminate on the
earlier of August 1, 2023 or such date that Landlord elects to terminate the
Lease.
As consideration for Landlord's entry into the Agreement, the Company has agreed
to: (a) pay to Landlord a lease modification payment of $5,380,000, (b) allow
Landlord to draw upon the letter of credit it provided as a security deposit in
the amount of $916,300 and (c) convey ownership to Landlord of certain items of
personal property, furniture and fixtures located within the Premises. The
Company will have no further rent obligations to Landlord pursuant to the Lease
or Agreement from and after April 1, 2023.
The foregoing description of the Lease Termination Agreements do not purport to
be complete and are qualified in their entirety by reference to the full text of
the Lease Termination Agreements, copies of which will be filed with the
Company's public filings and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registration
The information set forth in Item 1.02 of this Current Report on Form 8-K is
incorporated by reference into this Item 2.03.
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APPLIED MOLECULAR TRANSPORT INC. 
