Paul DiPerna - Oct 2, 2023 Form 4 Insider Report for Modular Medical, Inc. (MODD)

Role
Chairman, President, Chief Financial Officer and Treasurer, Director, 10%+ Owner
Signature
/s/ James Sullivan, attorney-in-fact for Paul DiPerna
Stock symbol
MODD
Transactions as of
Oct 2, 2023
Transactions value $
$150,002
Form type
4
Date filed
10/4/2023, 04:05 PM
Previous filing
Apr 5, 2023
Next filing
Apr 9, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MODD Option to purchase common stock Award $100K +90.1K $1.11 90.1K Oct 2, 2023 Common Stock 90.1K $1.11 Direct F1, F2
transaction MODD Option to purchase common stock Award $50K +45K $1.11 45K Oct 2, 2023 Common Stock 45K $1.11 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option shall vest as to all of the shares subject to the option if (i) all verification and validation testing for the Registrant's initial pump product is completed by December 31, 2023 and (ii) the 510(K) premarket submission to the U.S. Food and Drug Administration ("FDA") for the Registrant's initial pump product is completed by January 31, 2024. If criteria (i) and (ii) are not both achieved, the option will not vest as to any of the shares and will terminate on February 1, 2024.
F2 In accordance with Instruction 4 to this Form, column 9 reports only total beneficial ownership of the "class" of derivative security reported in Column 1. Options that have different exercise prices or vesting terms are not considered to be of the same "class."
F3 This option shall vest as to all of the shares subject to the option if the Registrant receives notification of FDA clearance of the 510(K) premarket submission on or before August 1, 2024. If notification is not received on or before that date, the option will not vest as to any of the shares and will terminate on August 2, 2024.

Remarks:

Chairman, President, Chief Financial Officer and Treasurer