The Company has an operating lease in Cambridge, Massachusetts for its corporate headquarters. The lease will expire in January 2024 and includes an optional extension for an additional three year period.

The Company also has an operating lease for approximately 33,518 square feet (the “Pod 4 Portion”), approximately 54,666 square feet (the “Pod 5 Portion”), and approximately 17,150 square feet ("Pod 3 Portion") of a manufacturing facility located in Andover, Massachusetts that expires in December 2036. The Company has two options to extend the term of the lease for a period of ten years each. As of June 30, 2022, the Company had not exercised its options to extend the lease term for either lease and it does not deem it reasonably certain that these options will be exercised. The Company agreed to provide the landlord with a $3.4 million letter of credit as support for its obligations under the Andover facility lease. The lease provides a lease incentive in the form of reimbursable leasehold improvements of approximately $14.9 million. Due to the unpredictability of the payout of leasehold improvement reimbursements, the Right of Use asset will be adjusted on a prospective basis to reflect any payments relating to the lease incentive as construction related to these improvements is performed over the life of the lease. As of June 30, 2022, the Company capitalized $28.9 million of leasehold improvement costs, of which $6.2 million was reimbursed through the lease incentive. The lease payments include fixed base rent payments and variable rents for certain shared facility operating and other costs.

During the three and six months ended June 30, 2022, the Company recognized total rent expense related to the leases described above of $1.5 million and $3.1 million, respectively, compared to $1.4 million and $2.8 million in the same periods of 2021. The amount of variable rent expense and rent for short-term leases for the three and six months ended June 30, 2022 and 2021, was $0.7 million, $1.6 million, $0.5 million, and $0.8 million, respectively.

Other supplemental information related to leases is as follows:


	AS OF AND FOR SIX MONTHS ENDED JUNE 30,
	2022	2021
Weighted average remaining lease term	13.3 years	14.0 years
Weighted average discount rate	8.1%	8.5%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)	$2,557	$762

Maturities of operating lease liabilities are as follows as of June 30, 2022 (in thousands):


Year	Amount
2022	$	3,147
2023		6,380
2024		4,995
2025		5,145
2026		5,299
Thereafter		62,575
Total lease payments		87,541
Less imputed interest		(35,972	)
Total lease liabilities	$	51,569

Current portion		2,300
Long-term portion		49,269