Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person * CLARK IAN T 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) (Last) (First) (Middle) C/O OLEMA PHARMACEUTICALS, INC., 780 BRANNAN STREET 3. Date of Earliest Transaction (Month/Day/Year) 12/19/2025 (Street) SAN FRANCISCO, CA 94103 4. If Amendment, Date 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 (City) (State) (Zip) 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 12/19/2025 M 209,690 A $4.406 209,690 D Common Stock 12/19/2025 M 21,520 A $3.61 231,210 D Common Stock 12/19/2025 M 21,520 A $7.84 252,730 D Common Stock 12/19/2025 M 12,070 A $4.08 264,800 D Common Stock 12/19/2025 S 29,904 D $28.83(1) 234,896 D Common Stock 12/19/2025 S 193,056 D $29.71(2) 41,840 D Common Stock 12/19/2025 S 41,840 D $30.48(3) 0 D

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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 Underlying Securities (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 of Derivative Security: 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

Stock Option (Right to Buy)

$4.406

12/19/2025

M

209,690

(4)

08/11/2023

Common Stock

209,690

$ 0

0

D

Stock Option (Right to Buy)

$3.61

12/19/2025

M

21,520

(4)

06/16/2032

Common Stock

21,520

$ 0

0

D

Stock Option (Right to Buy)

$7.84

12/19/2025

M

21,520

(4)

06/15/2033

Common Stock

21,520

$ 0

0

D

Stock Option (Right to Buy)

$4.08

12/19/2025

M

12,070

(5)

06/11/2035

Common Stock

12,070

$ 0

12,080

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CLARK IAN T C/O OLEMA PHARMACEUTICALS, INC. 780 BRANNAN STREET SAN FRANCISCO, CA 94103	X

Signatures

/s/ Shane Kovacs, Attorney-in-fact		12/23/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	The weighted average sale price for the transaction reported was $28.83, and the range of prices was between $28.215 and $29.21. 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 $29.71, and the range of prices was between $29.22 and $30.19. 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 $30.48, and the range of prices was between $30.23 and $30.995. 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)	Fully vested.
(5)	The shares subject to the option vest in a series of 12 successive equal monthly installments measured from June 11, 2025, subject to the Reporting Person'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 the Reporting Person's continuous service through such vesting date.

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