4/A: Olema Pharmaceuticals Director Amends SEC Filing After Incorrectly Reporting Share Transaction

A director of Olema Pharmaceuticals, Graham G. Walmsley, filed an amended SEC Form 4 to correct errors in a previous filing regarding a share transaction between two investment funds under his control.

Summary

• Graham G. Walmsley, a director at Olema Pharmaceuticals, filed an amended SEC Form 4 to correct errors in a previous filing.
• The original filing incorrectly stated the transaction date as December 17, 2024, when it was actually December 13, 2024.
• The amended filing clarifies that 700,761 shares were transferred from Logos Opportunities Fund I LP to Logos Opportunities Fund IV LP, both of which are under the common control of Mr. Walmsley.
• The original filing also incorrectly reported the number of shares held by Logos Fund IV after the transaction as 1,408,875, when the correct number was 700,761.
• Additionally, the original filing mistakenly reported the purchase of shares by Logos Fund IV as a disposition, when it was actually an acquisition.
• The amended filing also corrects the reporting of shares held by Logos Opportunities Fund II LP, which were incorrectly attributed to Logos Fund IV in the original filing.

Sentiment

Score: 3

Explanation: The sentiment is negative due to the errors in the original filing, which raises concerns about internal controls and compliance. However, the amendment shows that the errors were corrected.

Negatives

• The original SEC filing contained several errors, including an incorrect transaction date, incorrect share amounts, and a mischaracterization of the transaction as a disposition instead of an acquisition.

Risks

• Errors in SEC filings can raise concerns about the accuracy of financial reporting and internal controls.
• The need for an amended filing may indicate a lack of attention to detail or potential issues with compliance procedures.

Industry Context

This type of filing is routine for company directors and officers who have transactions in the company's stock. The amendment highlights the importance of accuracy in SEC filings.

Comparison to Industry Standards

• SEC Form 4 filings are a standard requirement for company insiders, and amendments are not uncommon when errors are identified.
• The level of detail and the need for accuracy in these filings are consistent with industry best practices for transparency and regulatory compliance.
• Other companies in the pharmaceutical sector also have similar requirements for reporting insider transactions.

Related Party Transactions

• The transaction involved the transfer of shares between two funds, Logos Opportunities Fund I LP and Logos Opportunities Fund IV LP, both of which are under the common control of the reporting person, Graham G. Walmsley.

Stakeholder Impact

• The amended filing ensures that shareholders and the market have accurate information regarding insider transactions.
• The correction of errors in the filing helps maintain investor confidence in the company's compliance and reporting practices.

Key Dates

Keywords

SEC Form 4, amended filing, beneficial ownership, share transaction, Olema Pharmaceuticals, Graham G. Walmsley, Logos Opportunities Fund