Morgan C. Frank - Dec 31, 2021 Form 4 Insider Report for Modular Medical, Inc. (MODD)

Role: Director, 10%+ Owner
Signature: /s/ James Sullivan, attorney-in-fact for Morgan C. Frank
Stock symbol: MODD
Transactions as of: Dec 31, 2021
Transactions value $: $93,755
Form type: 4
Date filed: 1/3/2022, 05:05 AM
Previous filing: Oct 4, 2021
Next filing: Apr 4, 2022

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	$75K	+9.99K		$7.51	9.99K	Dec 31, 2021	Common Stock	9.99K	$7.51	Direct	F1, F2
transaction	MODD	Option to purchase common stock	Award	$18.8K	+2.5K		$7.51	2.5K	Dec 31, 2021	Common Stock	2.5K	$7.51	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The options were granted to the Reporting Person in accordance with the Issuer's Outside Director Compensation Plan, and the options were fully vested and exercisable on the grant date.
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." As a result of the grants reported herein, the Reporting Person currently has aggregate options to purchase a total of 67,896 shares of the Issuer.

Content

The options were granted to the Reporting Person in accordance with the Issuer's Outside Director Compensation Plan, and the options were fully vested and exercisable on the grant date.

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." As a result of the grants reported herein, the Reporting Person currently has aggregate options to purchase a total of 67,896 shares of the Issuer.