Olema Pharmaceuticals, Inc. filed a current report on Form 8-K on August 13, 2026, disclosing the appointment of Jason O'Byrne as Chief Financial Officer, principal financial officer, and principal accounting officer, effective August 11, 2026.

Key Highlights

  • New CFO appointed: Jason O'Byrne, age 58, joined as Chief Financial Officer effective August 11, 2026, with Board approval granted on July 28, 2026.
  • Base salary: O'Byrne's initial annualized base salary is $545,000, with a target annual performance bonus of 45% of annual base salary.
  • Sign-on bonus: O'Byrne received a sign-on bonus of $250,000 payable within 30 days of the effective date and $100,000 payable within 30 days following the first anniversary of the effective date, subject to service-based repayment obligations.
  • Stock option grant: Subject to Board approval, O'Byrne will receive an option to purchase 650,000 shares of common stock, vesting over four years under the Company's 2022 Inducement Plan.
  • Prior experience: O'Byrne most recently served as Executive Vice President and Chief Financial Officer of Vir Biotechnology, Inc. from October 2024 to August 2026, and previously as CFO of Caribou Biosciences, Inc. from 2021 to 2024.
  • Severance terms: In a non-Change in Control termination without Cause or resignation for Good Reason, O'Byrne is entitled to 12 months of continued base salary, a prorated bonus, COBRA reimbursement for up to 12 months, and, if separation occurs more than 12 months after the effective date, accelerated vesting of 50% of then-unvested Option shares.

Jason O'Byrne Joins Olema Pharmaceuticals as CFO With Equity and Severance Package

According to the filing, Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) reported that the Board of Directors approved the appointment of Jason O'Byrne as the Company's Chief Financial Officer, principal financial officer, and principal accounting officer on July 28, 2026, with the role becoming effective August 11, 2026. The Company disclosed that it delayed public announcement of the appointment in accordance with the instruction to paragraph (c) of Item 5.02(c) of Form 8-K.

The filing describes O'Byrne's compensation arrangement under an offer letter dated July 24, 2026. His initial annualized base salary is $545,000, and he is eligible for an annual performance bonus with a target of 45% of base salary. The sign-on bonus is structured in two tranches: $250,000 payable within 30 days of the effective date and $100,000 payable within 30 days following the first anniversary of the effective date, each subject to certain service-based repayment obligations. The filing states that all payments are subject to applicable withholdings and deductions and that O'Byrne's employment is on an "at-will" basis.

The filing further discloses that, subject to Board approval, O'Byrne will be granted an option to purchase 650,000 shares of common stock under the Company's 2022 Inducement Plan, granted "as an inducement material to Mr. O'Byrne's entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4)." The option vests over four years, with 25% vesting on the first anniversary of the effective date and the remainder vesting monthly thereafter. The filing notes O'Byrne has extensive prior experience in biopharmaceutical finance, including 13 years at Genentech, Inc. and its parent the Roche Group, where he held finance leadership positions including Vice President, Head of Finance for Roche Asia-Pacific.

What Was Disclosed

Olema Pharmaceuticals disclosed the appointment of Jason O'Byrne as CFO effective August 11, 2026, along with his compensation terms, equity grant details under the 2022 Inducement Plan, and severance provisions under the offer letter filed as Exhibit 10.1.