Bvf Partners L P/Il - Jun 14, 2024 Form 4 Insider Report for Olema Pharmaceuticals, Inc. (OLMA)

Role: Director, 10%+ Owner
Signature: BVF Partners L.P., By: BVF Inc., its general partner, By: /s/ Mark N. Lampert, President
Stock symbol: OLMA
Transactions as of: Jun 14, 2024
Transactions value $: $0
Form type: 4
Date filed: 6/18/2024, 05:31 PM
Previous filing: Jun 10, 2024
Next filing: Jun 28, 2024

Transactions Table

Type	Sym	Class	Shares After	Date	Ownership	Footnotes
holding	OLMA	Common stock, $0.0001 par value	4.69M	Jun 14, 2024	Direct	F1, F2
holding	OLMA	Common stock, $0.0001 par value	3.58M	Jun 14, 2024	Direct	F1, F3
holding	OLMA	Common stock, $0.0001 par value	524K	Jun 14, 2024	Direct	F1, F4
holding	OLMA	Common stock, $0.0001 par value	99.6K	Jun 14, 2024	See footnote	F1, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	OLMA	Stock Option (Right to buy)	Award	$0	+23K	$0.00	23K	Jun 14, 2024	Common stock, $0.0001 par value	23K	$12.36	See footnote	F6, F7
holding	OLMA	Stock Option (Right to buy)					21.5K	Jun 14, 2024	Common stock, $0.0001 par value	21.5K	$7.84	See footnote	F6, F8
holding	OLMA	Stock Option (Right to buy)					21.5K	Jun 14, 2024	Common stock, $0.0001 par value	21.5K	$3.61	See footnote	F6, F8
holding	OLMA	Stock Option (Right to buy)					21.5K	Jun 14, 2024	Common stock, $0.0001 par value	21.5K	$27.66	See footnote	F6, F8
holding	OLMA	Stock Option (Right to buy)					21.5K	Jun 14, 2024	Common stock, $0.0001 par value	21.5K	$19.00	See footnote	F6, F8
holding	OLMA	Stock Option (Right to buy)					21.5K	Jun 14, 2024	Common stock, $0.0001 par value	21.5K	$19.00	See footnote	F6, F8
holding	OLMA	Stock Option (Right to buy)					21.5K	Jun 14, 2024	Common stock, $0.0001 par value	21.5K	$19.00	See footnote	F6, F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 the 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 the 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	Securities held in a certain Partners managed account (the "Partners Managed Account"). Partners may be deemed to have indirect beneficial ownership of the securities of the Issuer held by the Partners Managed Account for purposes of Rule 16a-1(a)(2) because the securities account for more than 10% of the market value of the portfolio of the Partners Managed Account as of the reporting date. Partners, as the investment manager of the Partners Managed Account, may be deemed to beneficially own the securities held by the Partners Managed Account. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities held by the Partners Managed Account. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities held by the Partners Managed Account.
F6	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 Dr. 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, Dr. Hrustanovic disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
F7	The shares subject to the option vest in a series of 12 successive equal monthly installments measured from June 14, 2024, subject to Dr. 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 Dr. Hrustanovic's continuous service through such vesting date.
F8	The shares subject to the option have fully vested.

Remarks:

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each of the Reporting Persons may be deemed to be a director by deputization of the Issuer due to a member of Partners, Gorjan Hrustanovic, serving on the Board of Directors of the Issuer, and his agreement 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.