[Form 4] Blackrock, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Modular Medical, Inc. (MODD) – Form 4 filed 07/02/2025

Director and 10% owner Morgan C. Frank disclosed the award of stock options granted on 06/30/2025 under the company’s Outside Director Compensation Plan:

• 1,875 options to buy common stock at an exercise price of $0.68, fully vested on the grant date, expiring 06/30/2035.
• 7,500 additional options on identical terms.

After these grants, Mr. Frank beneficially owns 9,375 derivative securities (stock options) directly. No changes in non-derivative (actual share) ownership were reported.

The filing records routine director compensation aligned with the company’s plan; it neither involves open-market purchases nor sales and therefore provides limited insight into near-term insider sentiment. The document does not disclose Modular Medical’s total shares outstanding, so the potential dilution impact of 9,375 options cannot be quantified from this filing alone.

Positive

• Incentive alignment: Fully-vested options grant ties director rewards to future share price performance.

Negative

• Potential dilution: Although small, 9,375 additional options add to the company’s overhang without an accompanying capital inflow.

Insights

Securities Analyst

TL;DR: Routine option grant; neutral signal, minimal immediate market impact.

The Form 4 documents compensation-related option awards—9,375 options at $0.68—to a director who is also a 10 % owner. Because the options are fully vested and priced close to par value, they align incentives but do not reflect an active purchase commitment. With no open-market activity and a small absolute share count, the filing is operationally routine and unlikely to move the stock.

Corporate Governance Specialist

TL;DR: Options issued under board plan; standard governance practice.

The transaction follows the Outside Director Compensation Plan, signalling adherence to established governance procedures. Immediate vesting ensures the director’s voting and economic interests are tied to performance over a 10-year horizon. However, the modest volume suggests negligible dilution and limited investor significance. Overall impact is neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PECK KRISTIN C

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock, Inc. [ BLK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Shares Of Common Stock (par Value $0.01 Per Share)	06/30/2025		A		28(1)	A	$0	1,722	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Common Stock granted to Nonemployee Directors under the Third Amended and Restated BlackRock, Inc. 1999 Stock Award and Incentive Plan, based on $1,049.25 per share which was the closing price of the stock on June 30, 2025.

	/s/ R. Andrew Dickson III as Attorney-in-Fact for Kristin C. Peck	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Modular Medical (MODD) report on 07/02/2025?

A Form 4 disclosed that director and 10 % owner Morgan C. Frank received stock option grants, not open-market share trades.

How many stock options were granted to Morgan C. Frank?

He received a total of 9,375 options (1,875 + 7,500).

What is the exercise price and expiration date of the options?

Each option has an exercise price of $0.68 and expires on 06/30/2035.

Were the options immediately vested?

Yes. The filing states the options were fully vested and exercisable on the grant date.

Did the director buy or sell any common shares?

No. The Form 4 shows no open-market purchases or sales of non-derivative common stock.

How many derivative securities does the director now own?

Mr. Frank now beneficially owns 9,375 derivative securities (options).