Kevin Schmid - 21 Jul 2022 Form 3 Insider Report for Modular Medical, Inc. (MODD)

Role: Chief Operating Officer
Signature: /s/ James Sullivan, Attorney-in-Fact for Kevin Schmid
Issuer symbol: MODD
Transactions as of: 21 Jul 2022
Net transactions value: $0
Form type: 3
Filing time: 05 Aug 2022, 17:57:19 UTC
Next filing: 05 Apr 2023
SEC: View on sec.gov

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
holding	MODD	Option to Purchase Shares of Common Stock							21 Jul 2022	Common Stock	175,000	$4.24	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The stock option (the "Option") was issued to Mr. Schmid pursuant to an Offer Letter by and between Mr. Schmid and Modular Medical, Inc. (the "Company"). The Option shall vest over a three-year period with one-third of the shares subject to the Option vesting on the one-year anniversary of the grant date and the remaining shares vesting monthly thereafter, subject to Mr. Schmid's continuous service with the Company.

Content

The stock option (the "Option") was issued to Mr. Schmid pursuant to an Offer Letter by and between Mr. Schmid and Modular Medical, Inc. (the "Company"). The Option shall vest over a three-year period with one-third of the shares subject to the Option vesting on the one-year anniversary of the grant date and the remaining shares vesting monthly thereafter, subject to Mr. Schmid's continuous service with the Company.