MOD insider exercises options for 13,658 shares at $12.28–$17.79

Rhea-AI Filing Summary

Michael B. Lucareli, EVP and CFO of Modine Manufacturing Co. (MOD), reported exercising employee stock options that resulted in the acquisition of a total 13,658 common shares on 08/07/2025. The filings list two option exercises: 7,816 shares associated with a $17.79 price and 5,842 shares associated with a $12.28 price.

The derivative table shows the exercised options had exercisable dates of 06/04/2025 (expiration 06/04/2031) and 06/06/2025 (expiration 06/06/2032). The filing reports beneficial ownership figures of 49,736 and 55,578 shares following the reported transactions and notes 971 units held in the reporting person's Modine 401(k) account. Ownership is reported as Direct (D) in the filing.

Positive

• Reporting person acquired 13,658 shares through option exercises (7,816 and 5,842 shares), showing increased direct ownership.
• Transaction details disclosed including exercise prices ($17.79 and $12.28) and exercisable/expiration dates for each option series.

Negative

• None.

Insights

Securities Analyst

TL;DR: EVP exercised options to buy 13,658 shares; routine insider option exercises with clear disclosure, limited standalone market impact.

The Form 4 documents two exercises totaling 13,658 shares executed on 08/07/2025 at exercise prices of $17.79 and $12.28. The filing supplies exercisable and expiration dates for each option series and reports post-transaction beneficial ownership amounts. This is a straightforward disclosure of option exercises rather than an open-market purchase or sale; as presented, it is a compliance disclosure with no additional operational or financial details to alter an investment thesis.

Corporate Governance Expert

TL;DR: Disclosure appears complete for an insider option exercise; filing includes attorney-in-fact signature and direct ownership reporting.

The form identifies the reporting person as Michael B. Lucareli (EVP, CFO) and shows an attorney-in-fact executed the filing signature. Table entries indicate direct beneficial ownership and include a note about 971 units held in a company 401(k) plan. From a governance and compliance perspective, required fields—transaction date, option terms, shares acquired, and post-transaction ownership—are provided, consistent with routine Section 16 reporting obligations.

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^*

Lucareli Michael B

(Last) (First) (Middle)

1500 DEKOVEN AVE.

(Street)

RACINE WI 53403

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MODINE MANUFACTURING CO [ MOD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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
Common stock	08/07/2025		M		7,816	A	$17.79	49,736(1)	D
Common stock	08/07/2025		M		5,842	A	$12.28	55,578(1)	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
Employee stock option (Right to buy)	$17.79	08/07/2025		M			7,816	06/04/2025	06/04/2031	Common stock	7,816	$0	11,742	D
Employee stock option (Right to buy)	$12.28	08/07/2025		M			5,842	06/06/2025	06/06/2032	Common stock	5,842	$0	7,946	D

Explanation of Responses:

1. This total includes 971 units of Modine common stock held in the Reporting Person's Modine 401(k) Retirement Plan account.

	/s/ Erin J. Roth, Attorney-in-Fact	08/11/2025
	** 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 transactions were reported for Modine (MOD)?

Michael B. Lucareli exercised employee stock options on 08/07/2025 to acquire a total of 13,658 shares (7,816 and 5,842 shares).

What were the exercise prices and option terms reported?

The filing lists exercise prices of $17.79 and $12.28; exercisable dates were 06/04/2025 (expiring 06/04/2031) and 06/06/2025 (expiring 06/06/2032).

Who is the reporting person and what is their role at MOD?

The reporting person is Michael B. Lucareli, identified as EVP, CFO of Modine Manufacturing Co.

How many shares does the filing show as beneficially owned after the transactions?

The filing shows post-transaction beneficial ownership figures of 49,736 and 55,578 shares in the respective table entries.

Does the filing note retirement plan holdings?

Yes, the form states it includes 971 units of Modine common stock held in the reporting person's Modine 401(k) Retirement Plan account.