Paul DiPerna - 26 Jan 2022 Form 4 Insider Report for Modular Medical, Inc. (MODD)

Role
Title: Chairman, President and Chief Financial Officer, Director, 10%+ Owner
Signature
/s/ Paul DiPerna
Issuer symbol
MODD
Transactions as of
26 Jan 2022
Net transactions value
$0
Form type
4
Filing time
22 Feb 2022, 10:24:48 UTC
Previous filing
01 Nov 2021
Next filing
17 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODD Common Stock Options Exercise +23,429 +0.93% 2,543,585 14 Feb 2022 Direct F1

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 Convertible Promissory Note Options Exercise -23,429 -100% 0 14 Feb 2022 Common Stock 23,429 $6.00 Direct F1
transaction MODD Common Stock Purchase Warrant Options Exercise +23,429 23,429 14 Feb 2022 Common Stock 23,429 $6.60 Direct F1
transaction MODD Common Stock Purchase Warrant Purchase +11,294 11,294 26 Jan 2022 Common Stock 11,294 $6.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The convertible promissory note (the "Note") was issued to the Paul DiPerna Trust on April 30, 2021, in the principal aggregate amount of $102,663, in connection with a private placement conducted by the Issuer. At the time of conversion, the Note had accrued interest of $9,788 and an outstanding balance of $112,451. Pursuant to its terms, the Note was automatically converted, on February 14, 2022, into (i) 23,429 shares of common stock of the Issuer and (ii) warrants to purchase 23,429 shares of common stock of the Issuer.
F2 The common stock purchase warrant (the "Warrant") was issued to the Paul DiPerna Trust on April 30, 2021 (the "Issuance Date"). Pursuant to its terms, the Warrant became exercisable on January 26, 2022, the day that is 271 calendar days following the Issuance Date.

Remarks:

Title: Chairman, President and Chief Financial Officer