Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Demopulos Gregory A MD
   2. Issuer Name and Ticker or Trading Symbol
OMEROS CORP [OMER] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman, CEO & President
(Last)
(First)
(Middle)
201 ELLIOTT AVENUE WEST		 3. Date of Earliest Transaction (Month/Day/Year)
11/30/2016
(Street)

SEATTLE, WA 98119		 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 11/30/2016   M   97,559 A $ 0.98 1,801,381 D  
Common Stock 11/30/2016   S(1)   97,559 D $ 12.2129 (2) 1,703,822 D  
Common Stock 12/01/2016   M   106,521 A $ 0.98 1,810,343 D  
Common Stock 12/01/2016   S(1)   105,522 D $ 11.5593 (3) 1,704,821 D  
Common Stock 12/01/2016   S(1)   999 D $ 12.315 (4) 1,703,822 D  
Common Stock 12/02/2016   M   102,040 A $ 0.98 1,805,862 D  
Common Stock 12/02/2016   S(1)   102,040 D $ 11.0015 (5) 1,703,822 D  
Common Stock 12/02/2016   M   181,163 A $ 0.98 1,884,985 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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) $ 0.98 11/30/2016   M     97,559   (6) 12/11/2016 Common Stock 97,559 $ 0 514,685 D  
Stock Option (Right to Buy) $ 0.98 12/01/2016   M     106,521   (6) 12/11/2016 Common Stock 106,521 $ 0 408,164 D  
Stock Option (Right to Buy) $ 0.98 12/02/2016   M     102,040   (6) 12/11/2016 Common Stock 102,040 $ 0 306,124 D  
Stock Option (Right to Buy) $ 0.98 12/02/2016   M     181,163   (6)(7) 12/11/2016 Common Stock 181,163 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Demopulos Gregory A MD
201 ELLIOTT AVENUE WEST
SEATTLE, WA 98119		   X     Chairman, CEO & President  

Signatures

 /s/ Marcia S. Kelbon, attorney in-fact on behalf of Gegory A. Demopulos   12/02/2016
**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) Open market sale pursuant to a Rule 10b5-1 trading plan adopted by the reporting person that provides for the exercise and sale of options to purchase 612,244 shares of common stock that expire on December 11, 2016 and 100 shares of common stock that expire on April 7, 2020; the latter at a threshold price of $100.00 per share. Under the plan, the options expiring on December 11, 2016, which do not provide for an extension of the exercise period, would be exercised and sold during fixed sale periods at specified prices and numbers in each sale period. Consistent with the applicable trading rules, the reporting person has had no further control over the terms or timing of sales under the plan. A portion of the proceeds from the exercise of the options expiring on December 11, 2016, all of which are non-qualified, are being used in part to fund the reporting person's exercise of all incentive stock options that otherwise would expire on December 11, 2016. See note (7) below.
(2) This transaction was executed in multiple trades at prices ranging from $12.06 to $12.59; the price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions referenced in this footnote were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
(3) This transaction was executed in multiple trades at prices ranging from $11.27 to $12.26; the price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions referenced in this footnote were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
(4) This transaction was executed in multiple trades at prices ranging from $12.27 to $12.37; the price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions referenced in this footnote were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
(5) This transaction was executed in multiple trades at prices ranging from $10.84 to $11.30; the price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions referenced in this footnote were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
(6) The option vested and became exercisable in 48 equal monthly installments. The first installment became exercisable on March 28, 2005 and subsequent installments became exercisable on each monthly anniversary thereafter.
(7) On December 2, 2016, the reporting person exercised incentive stock options to purchase 181,163 shares of common stock, which are being retained by the reporting person.

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