William J. Febbo - 06 Feb 2022 Form 4 Insider Report for Modular Medical, Inc. (MODD)

Role: Director
Signature: /s/ William J. Febbo
Issuer symbol: MODD
Transactions as of: 06 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 22 Feb 2022, 10:26:37 UTC
Previous filing: 20 Jan 2022
Next filing: 23 Feb 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		+45,586	+605%		53,124	14 Feb 2022	Direct	F1

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

Type	Sym	Class	Transaction	Shares	Change %	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MODD	Convertible Promissory Note	Options Exercise	-45,586	-100%	0	14 Feb 2022	Common Stock	45,586	$6.00	Direct	F1
transaction	MODD	Common stock purchase warrant	Options Exercise	+45,586		45,586	14 Feb 2022	Common Stock	45,586	$6.60	Direct	F1
transaction	MODD	Common stock purchase warrant	Purchase	+23,229		23,229	06 Feb 2022	Common Stock	23,229	$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 Mr. Febbo on May 11, 2021, in the principal aggregate amount of $200,000, in connection with a private placement conducted by the Issuer. At the time of conversion, the Note had accrued interest of $18,805 and an outstanding balance of $218,805. Pursuant to its terms, the Note was automatically converted on February 14, 2022, into (i) 45,586 shares of common stock of the Issuer and (ii) warrants to purchase 45,586 shares of common stock of the Issuer.
F2	The common stock purchase warrant (the "Warrant") was issued to Mr. Febbo on May 11, 2021 (the "Issuance Date"). Pursuant to its terms, the Warrant became exercisable on February 6, 2022, the day that is 271 calendar days following the Issuance Date.

Content

The convertible promissory note (the "Note") was issued to Mr. Febbo on May 11, 2021, in the principal aggregate amount of $200,000, in connection with a private placement conducted by the Issuer. At the time of conversion, the Note had accrued interest of $18,805 and an outstanding balance of $218,805. Pursuant to its terms, the Note was automatically converted on February 14, 2022, into (i) 45,586 shares of common stock of the Issuer and (ii) warrants to purchase 45,586 shares of common stock of the Issuer.

The common stock purchase warrant (the "Warrant") was issued to Mr. Febbo on May 11, 2021 (the "Issuance Date"). Pursuant to its terms, the Warrant became exercisable on February 6, 2022, the day that is 271 calendar days following the Issuance Date.