Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN FRANCISCO, March 04, 2025 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (("Olema" or "Olema Oncology", NASDAQ:OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond, today announced that the Company granted stock options to two new employees to purchase an aggregate of 19,800 shares of the Company's common stock, effective as of March 3, 2025. These awards were approved by the Compensation Committee of Olema's Board of Directors and granted under the Company's 2022 Inducement Plan as an inducement material to the new employees entering into employment with Olema, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25 percent vesting on the first anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Olema as of such vesting dates. The stock options have a 10-year term and an exercise price of $4.21 per share, equal to the last reported sale price of the Company's common stock as reported by Nasdaq on March 3, 2025. The stock options are subject to the terms of the Olema Pharmaceuticals, Inc., 2022 Inducement Plan.
In addition, in connection with the appointment of Shawnte Mitchell as Chief Legal Officer and Corporate Secretary effective February 18, 2025, the Company granted Ms. Mitchell an employment inducement award consisting of stock options to purchase 450,000 shares of the Company's common stock, with an effective grant date of February 28, 2025 and an exercise price of $4.37 per share, equal to the last reported sale price of the Company's common stock as reported by Nasdaq on February 28, 2025. The award was approved by the Compensation Committee of Olema's Board of Directors and granted under the Company's 2022 Inducement Plan. The stock options vest over four years, with 25 percent vesting on the first anniversary of the grant date for Ms. Mitchell and the remainder vesting in 36 equal monthly installments over the following three years, subject to continuous employment as of such vesting dates.
Olema is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Olema Oncology
Olema Oncology is a clinical-stage biopharmaceutical company committed to transforming the standard of care and improving outcomes for patients living with breast cancer and beyond. Olema is advancing a pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. Our lead product candidate, palazestrant (OP-1250), is a proprietary, orally available complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD), currently in a Phase 3 clinical trial called OPERA-01. In addition, Olema is developing a potent KAT6 inhibitor (OP-3136). Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts. For more information, please visit us at www.olema.com.
Media and Investor Relations Contact
Courtney O'Konek
Vice President, Corporate Communications
Olema Oncology
[email protected]
