Olema Pharmaceuticals, Inc. 8-K

What Happened Olema Pharmaceuticals (filed 8-K on May 1, 2026; Items 1.01 and 2.03) announced it entered a lease with KR Oyster Point II, LLC for approximately 38,176 square feet (25,048 sq ft on the fourth floor — Phase I; 13,128 sq ft on the fifth floor — Phase II) to relocate its corporate headquarters. The company expects Phase I possession around September 15, 2026 and Phase II around December 1, 2026, with an intended HQ move by December 2026. The lease creates a multi‑year rent obligation and related financial commitments.

Key Details

• Landlord: KR Oyster Point II, LLC; Lease initial term: seven years (with a one‑time early termination option at the end of month 60).
• Base rent (net of rent abatement): Phase I = $12,361,188; Phase II = $6,145,463.76; combined = $18,506,651.76 for the Initial Term.
• Cash obligations: termination fee on early exit = $1,716,240.96; security deposit = $427,546.80.
• Other terms: tenant pays pro rata share of operating expenses, taxes and assessments; option to extend one additional five‑year period; right of first offer to expand into adjacent space (Suite 550 and sixth floor).

Why It Matters This lease establishes a long‑term headquarters location and creates a material, ongoing cash obligation for Olema (significant base rent and related deposits/fees). Investors should note the timing (occupancy expected Sept–Dec 2026), the multi‑year financial commitment, and the company’s responsibility for operating expenses and taxes. The full lease will be filed with Olema’s Form 10‑Q for the quarter ended March 31, 2026.