Olema Pharmaceuticals, Inc. — Director's Dealing 2021

Dec 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Olema Pharmaceuticals, Inc. (OLMA)
CIK: 0001750284
Period of Report: 2021-11-30

Reporting Person: BVF PARTNERS L P/IL (Director, 10% Owner)
Reporting Person: BIOTECHNOLOGY VALUE FUND L P (See Explanation of Responses)
Reporting Person: BVF I GP LLC (See Explanation of Responses)
Reporting Person: BIOTECHNOLOGY VALUE FUND II LP (See Explanation of Responses)
Reporting Person: BVF II GP LLC (See Explanation of Responses)
Reporting Person: Biotechnology Value Trading Fund OS LP (See Explanation of Responses)
Reporting Person: BVF Partners OS Ltd. (See Explanation of Responses)
Reporting Person: BVF GP HOLDINGS LLC (10% Owner)
Reporting Person: BVF INC/IL (10% Owner)
Reporting Person: LAMPERT MARK N (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-30	Common stock, $0.0001 par value	P	362430	$9.3903	Acquired	3755093	Direct
2021-11-30	Common stock, $0.0001 par value	P	341977	$9.3903	Acquired	2865242	Direct
2021-11-30	Common stock, $0.0001 par value	P	35268	$9.3903	Acquired	471350	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to buy)	$19.0000	2030-11-17	Common stock, $0.0001 par value (21520)	21520	Indirect
Stock Option (Right to buy)	$19.0000	2030-11-17	Common stock, $0.0001 par value (21520)	21520	Indirect
Stock Option (Right to buy)	$19.0000	2030-11-17	Common stock, $0.0001 par value (21520)	21520	Indirect
Stock Option (Right to buy)	$27.6600	2031-06-08	Common stock, $0.0001 par value (21520)	21520	Indirect

Footnotes

F1: This Form 4 is filed jointly by Biotechnology Value Fund, L.P. ("BVF"), Biotechnology Value Fund II, L.P. ("BVF2"), Biotechnology Value Trading Fund OS LP ("Trading Fund OS"), BVF Partners OS Ltd. ("Partners OS"), BVF I GP LLC ("BVF GP"), BVF II GP LLC ("BVF2 GP"), BVF GP Holdings LLC ("BVF GPH"), BVF Partners L.P. ("Partners"), BVF Inc. and Mark N. Lampert (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group that beneficially owns over 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

F2: Securities owned directly by BVF. As the general partner of BVF, BVF GP may be deemed to beneficially own the securities owned directly by BVF. As the sole member of BVF GP, BVF GPH may be deemed to beneficially own securities owned directly by BVF. As the investment manager of BVF, Partners may be deemed to beneficially own the securities owned directly by BVF. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF.

F3: Securities owned directly by BVF2. As the general partner of BVF2, BVF2 GP may be deemed to beneficially own the securities owned directly by BVF2. As the sole member of BVF2 GP, BVF GPH may be deemed to beneficially own securities owned directly by BVF2. As the investment manager of BVF2, Partners may be deemed to beneficially own the securities owned directly by BVF2. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF2. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF2.

F4: Securities owned directly by Trading Fund OS. As the general partner of Trading Fund OS, Partners OS may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment manager of Trading Fund OS and the sole member of Partners OS, Partners may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by Trading Fund OS. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by Trading Fund OS.

F5: Partners, BVF Inc. and Mr. Lampert may be deemed to have a pecuniary interest in the securities reported owned herein due to a certain agreement between Partners and Gorjan Hrustanovic, who serves on the Issuer's board of directors and as a member of Partners, pursuant to which Mr. Hrustanovic is obligated to transfer the economic benefit, if any, received upon the sale of the shares issuable upon exercise of the securities reported owned herein to Partners. As such, Mr. Hrustanovic disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.

F6: The shares subject to the option have fully vested.

F7: The shares subject to the option vest in a series of 36 successive equal monthy installments measured from November 18, 2020, subject to Mr. Hrustanovic's continuous service on the Issuer's board of directors through each applicable vesting date.

F8: The shares subject to the option vest in a series of 12 successive equal monthly installments measured from June 9, 2021, subject to Mr. Hrustanovic's continuous service through each applicable vesting date. Such shares vest in full on the date of the Issuer's next annual meeting of stockholders if such stock option is not otherwise fully vested by such date, subject to Mr. Hrustanovic's continuous service through such vesting date.