Paul DiPerna - 24 Apr 2025 Form 4 Insider Report for Modular Medical, Inc. (MODD)

Role
Chairman, President, Chief Financial Officer and Treasurer, Director
Signature
/s/ James Sullivan, attorney-in-fact for Paul DiPerna
Issuer symbol
MODD
Transactions as of
24 Apr 2025
Net transactions value
$0
Form type
4
Filing time
28 Apr 2025, 17:30:05 UTC
Previous filing
26 Aug 2024
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
transaction MODD Option to purchase common stock Award $0 +200,000 $0.000000 200,000 24 Apr 2025 Common Stock 200,000 $0.9400 Direct F1, F2
transaction MODD Option to purchase common stock Award $0 +200,000 $0.000000 200,000 24 Apr 2025 Common Stock 200,000 $0.9400 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 the Registrant receives notification of U.S. Food and Drug Administration clearance of the 510(K) premarket submission for its MODDi pump product on or before October 31, 2025. If notification is not received on or before that date, the option will not vest as to any of the shares subject to the option and will terminate on November 1, 2025.
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's manufacturing line has been validated on or before March 15, 2026 for the MODDi pump product with the capacity to produce a supply of product to serve 6,000 patients. If validation does not occur on or before that date, the option will not vest as to any of the shares subject to the option and will terminate on March 16, 2026.

Remarks:

Chairman, President, Chief Financial Officer and Treasurer