[Form 4] Olema Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Olema Pharmaceuticals director Cyrus Harmon reported open-market sales totaling 25,000 common shares across two trading dates in September 2025, reducing his direct holdings from 754,140 to 744,140 shares and his indirect holdings (via Harmon Family Investors LLC, which he manages) from 120,114 to 117,028 shares. The reported weighted-average sale prices ranged from about $8.02 to $8.37, with specific weighted averages of $8.04 and $8.33 for direct sales and $8.08 and $8.32 for indirect sales. The Form 4 discloses the manager relationship for the indirect holdings and provides ranges and weighted averages for the trades.

Positive

• Full disclosure of open-market sales with weighted-average prices and price ranges provided
• Indirect ownership structure is clearly disclosed (Harmon Family Investors LLC, reporting person is manager)
• Timely Form 4 filing signed by an attorney-in-fact, indicating procedural compliance

Negative

• Insider sales totaling 25,000 shares reduced both direct and indirect holdings, which may concern some investors
• Reduction in indirect holdings from 120,114 to 117,028 shares via the family LLC

Insights

Securities Analyst

TL;DR: Director sold 25,000 shares in two trades at ~$8.04–$8.33, modestly reducing both direct and indirect ownership.

The reporting shows routine, disclosed open-market sales rather than derivative exercises or transfers. Total shares sold equal 25,000, with weighted-average prices disclosed for each transaction group. Direct ownership decreased by 10,000 shares after 09/18/2025 to 744,140; indirect holdings via Harmon Family Investors LLC decreased to 117,028. From an investor-impact perspective, the transactions are transparent and do not indicate concentrated disposal or unusual derivative activity.

Corporate Governance Expert

TL;DR: Insider sales were fully reported and identify the manager relationship for indirect holdings, supporting governance transparency.

The Form 4 properly discloses the reporting person as a director and manager of an affiliated LLC holding indirect shares. The filing includes weighted-average prices and price ranges and is signed by an attorney-in-fact, which aligns with standard compliance practices. While insider sales can raise questions about sentiment, the filing contains no indication of policy breaches or undisclosed related-party transfers.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Harmon Cyrus

(Last) (First) (Middle)

C/O OLEMA PHARMACEUTICALS, INC.

780 BRANNAN ST

(Street)

SAN FRANCISCO CA 94103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Olema Pharmaceuticals, Inc. [ OLMA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/16/2025		S		10,000	D	$8.04(1)	754,140	D
Common Stock	09/18/2025		S		10,000	D	$8.33(2)	744,140	D
Common Stock	09/16/2025		S		1,914	D	$8.08(3)	120,114	I	See Footnote(4)
Common Stock	09/18/2025		S		3,086	D	$8.32(5)	117,028	I	See Footnote(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The weighted average sale price for the transaction reported was $8.04, and the range of prices was between $8.02 and $8.09. Upon request from the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price will be provided.

2. The weighted average sale price for the transaction reported was $8.33, and the range of prices was between $8.28 and $8.37. Upon request from the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price will be provided.

3. The weighted average sale price for the transaction reported was $8.08, and the range of prices was between $8.04 and $8.08. Upon request from the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price will be provided.

4. The shares are held by the Harmon Family Investors LLC, of which the Reporting Person is the manager.

5. The weighted average sale price for the transaction reported was $8.32, and the range of prices was between $8.29 and $8.33. Upon request from the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price will be provided.

	/s/ Shane Kovacs, Attorney-in-Fact	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Olema (OLMA) director Cyrus Harmon report on Form 4?

The filing reports open-market sales totaling 25,000 shares executed on 09/16/2025 and 09/18/2025, with disclosed weighted-average prices.

How many shares does Cyrus Harmon directly and indirectly own after these transactions?

After the reported sales, Harmon directly owned 744,140 shares and indirectly (via Harmon Family Investors LLC) owned 117,028 shares.

At what prices were the OLMA shares sold?

The Form 4 discloses weighted-average sale prices: $8.04 and $8.33 for the direct sales and $8.08 and $8.32 for the indirect sale groups, with provided price ranges.

Who holds the indirect shares reported on the Form 4?

The indirect shares are held by Harmon Family Investors LLC, of which the reporting person is the manager.

Was the Form 4 properly signed and filed?

Yes; the filing includes a signature by Shane Kovacs, Attorney-in-Fact dated 09/18/2025.