On May 3, 2022, the Company implemented a strategic restructuring initiative and corresponding reduction in workforce. The restructuring initiative and corresponding reduction in workforce was designed to reduce costs and reallocate resources towards the Company’s clinical development programs for SPR720 and SPR206, while maintaining key personnel needed to help preserve the value of the Company’s tebipenem HBr program. The restructuring reduced the Company’s workforce from 146 full-time employees as of December 31, 2021 to 41 full-time employees as of June 30, 2022. The Company recognized a one-time restructuring charge in the second quarter of 2022 of approximately $11.8 million. This charge included approximately $8.7 million of employee related termination costs, lease impairment expense of $0.6 million and $2.6 million of other discontinuation costs such as contract termination fees.

The following table summarizes the restructuring related charges by line item within the Company’s consolidated statements of operations where they were recorded during both the three and six months ended June 30, 2022 (in thousands):


	Research and development		General and administrative		Total
Severance and other employee costs	$	3,925	$	4,732	$	8,657
Lease impairment		372		263		635
Other		116		2,441		2,557
Total restructuring charges	$	4,413	$	7,436	$	11,849

The restructuring charge was included in accrued expenses and other current liabilities in the Company’s condensed consolidated balance sheets. Activity for the quarter is summarized as follows (amounts in thousands):


	As of June 30, 2022
Balance at beginning of period	$	—
Charge to expense		11,849
Payments made		(6,053	)
Write-offs and impairments		(3,480	)
Balance at end of period	$	2,316

As of June 30, 2022, the Company had $2.3 million remaining in accrued expenses and accounts payable on its condensed consolidated balance sheet, which will be paid by the end of the first quarter of 2023.

In June 2022, upon recommendation of the Company's Human Capital Management Committee (the “HCM Committee”), the Board of Directors approved retention awards for employees of the Company. Subject to remaining actively employed with the Company through May 31, 2023, the aggregate retention awards include (i) a cash bonus of $1.2 million payable on November 30, 2022 and $0.2 million to be paid in cash or as a fully vested RSU grant of the same value and (ii) a cash bonus of $3.5 million payable on May 31, 2023 and $0.7 million to be paid in cash or as a fully vested RSU grant of the same value. These amounts are accrued as services are performed through May 31, 2023.