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Subsequent Events
9 Months Ended
Sep. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events

11. Subsequent Events
 

Leadership Transition: Effective October 5, 2023, Edward Martucci II, Ph.D. resigned from his role as Chief Executive Officer of the Company and transitioned into a new role as Chair of the Board, following the October 4, 2023 resignation of Chamath Palihapitiya from the Board and from his role as Chair of the Board, and Dr. Martucci further agreed to assist the Company in an advisory capacity. In addition, also effective October 5, 2023, Matthew Franklin, the Company’s President and Chief Operating Officer, was appointed to the role of President and Chief Executive Officer and as a member of the Company’s Board.

As part of Dr. Martucci’s advisor agreement, and notwithstanding his continued service to the Company, Dr. Martucci agreed to forfeit 2,241,624 of his November 2, 2022 grant of performance-based restricted stock units, effective October 5, 2023, which will result in a reversal of $1,124 in stock-based compensation in the fourth quarter of 2023.

In connection with Mr. Franklin’s appointment as the Company’s President and Chief Executive Officer, on October 12, 2023, the Company granted Mr. Franklin a stock option to purchase up to 1,057,180 shares of the Company’s Common Stock, which option vests in eight equal semiannual installments over a four-year period following the option grant date, subject to Mr. Franklin’s continued service to the Company on each such vesting date.

License, Development and Commercialization Agreement: On October 16, 2023, Akili Interactive Labs, Inc., a wholly owned subsidiary of the Company, and TALi Digital Limited mutually agreed to terminate the License, Development and Commercialization Agreement dated as of August 16, 2021 between such parties, effective as of October 16, 2023. During the nine months ended September 30, 2023, the Company did not make any payments for out of pocket costs related to this agreement. As of the termination date, the Company has not made any payments for milestones or royalties related to this agreement.

Boston Office Space: The existing lease for office space in Boston expires in December 2023 and the Company does not plan to renew the lease. In November 2023, the Company entered into a new membership agreement, pursuant to which the Company agreed to pay a monthly license fee for the sum of approximately $9 per month for access to office space, with such access commencing on January 1, 2024. The agreement is for a one-year term and will automatically renew for successive one-year terms, subject to the Company’s right to terminate the agreement upon prior written notice and pursuant to the terms of the membership agreement.