---
schema_version: "secwatch.filing_event.v1"
accession: "0001801777-23-000025"
form_type: "8-K"
ticker: null
cik: "0001801777"
company_name: "Applied Molecular Transport Inc."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T15:22:13.296884+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Applied Molecular Transport lays off 57% of workforce, appoints Shawn Cross CEO, initiates strategic review

## Summary
- Workforce reduced by 35 employees (~57%) to 26; severance costs estimated at ~$4.8M.
- CEO Tahir Mahmood departs effective March 24; remains on board. Shawn Cross named CEO and Chair.
- Company pauses R&D, ends AMT-101 Castro trial; exploring strategic alternatives with MTS Health Partners.
- Cash and cash equivalents ~$47.4M as of Feb 28, 2023.
- Shawn Cross granted 668,000 stock options; base salary raised to $580,000.

## SEC filing metadata
- accession: 0001801777-23-000025
- form_type: 8-K
- cik: 0001801777
- company_name: Applied Molecular Transport Inc.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/0001801777-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/amti-20230321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801777-23-000025
- JSON: https://secwatch.observer/filing/0001801777-23-000025.json
- Plain text: https://secwatch.observer/filing/0001801777-23-000025.txt

## Key facts
- Executive change
  Shawn Cross was appointed as Class I Director at Applied Molecular Transport Inc..
  - Action: appointed
  - Role: Class I Director
  source text: On March 21, 2023, the Board appointed Mr. Cross to serve as a Class I director on the Board for a term expiring at the 2024 annual meeting of the Company’s stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/0001801777-23-000025-index.htm
- Executive change
  Tahir Mahmood departed as Chief Executive Officer at Applied Molecular Transport Inc..
  - Action: departed
  - Role: Chief Executive Officer
  source text: On March 24, 2023, Tahir Mahmood departed from his position as the Company’s Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/0001801777-23-000025-index.htm
- Executive change
  Shawn Cross was appointed as Chief Executive Officer and Chair at Applied Molecular Transport Inc..
  - Action: appointed
  - Role: Chief Executive Officer and Chair
  source text: On March 21, 2023, the Board approved the appointment of Shawn Cross, age 55, as Chief Executive Officer of the Company and Chair of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/0001801777-23-000025-index.htm
- Restructurings & Charges
  Applied Molecular Transport Inc. announced a restructuring with charges of approximately $3 million affecting all functional areas (35 employees).
  - Type: restructuring
  - Charge: approximately $3 million
  - Affected area: all functional areas
  - Headcount: 35 employees
  source text: On March 21, 2023, the board of directors (the “ Board ”) of Applied Molecular Transport Inc. (the “ Company ”) approved a reduction of the Company’s workforce by 35 employees across all functional areas of the Company, resulting in a total of 26 remaining full-time employees (the “ Workforce Reduction ”). The Workforce Reduction is intended to preserve capital by reducing the Company’s operating expenses. Affected employees will be offered customary separation benefits, including one time severance payments and payments to cover premiums for the continuation of healthcare coverage for a limited period of time. As a result of the Workforce Reduction, the Company estimates that it will incur approximately $3 million in costs primarily related to severance costs and related expenses and expects that the payments of these costs will be made through the end of the second quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/0001801777-23-000025-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.