Modular Med Inc SEC Filings

Modular Medical, Inc. director Philip Sheibley reported buying company securities in an underwritten public offering. On December 11, 2025 he acquired 22,000 shares of common stock, bringing his direct holdings to 97,513 shares. He also acquired warrants with a $0.45 exercise price covering 11,000 shares of common stock, which are immediately exercisable and expire on December 11, 2030, resulting in 11,000 derivative securities held. The filing further notes that on the same date he purchased 60,000 shares of common stock and warrants to buy 30,000 shares at an offering price of $0.77 for each two shares of common stock and one warrant.

Modular Medical, Inc. entered into an underwriting agreement for a firm commitment public offering of 12,173,000 shares of common stock, together with accompanying warrants exercisable for up to 6,086,500 shares. The transaction is expected to generate approximately $4.68 million in gross proceeds before underwriting discounts, commissions and expenses.

Each two shares of common stock are sold with one warrant at a combined price of $0.77, with the warrants exercisable immediately at $0.45 per share for five years. The company agreed to pay the underwriter a 7% cash fee plus up to $85,000 of expenses, granted a 30‑day over‑allotment option for additional shares and warrants, and issued underwriter warrants equal to 7% of the firm shares. Directors and executive officers are subject to 60‑day lock‑ups, and the company agreed to a 90‑day lock‑up on additional equity sales.

Modular Medical, Inc. director and >10% owner Morgan C. Frank received stock option awards on 09/30/2025 under the company's Outside Director Compensation Plan. Two option grants were reported: 1,875 options and 7,500 options, each with an exercise price of $0.70, fully vested and exercisable on the grant date, and expiring on 09/30/2035. The filing shows total reported beneficial ownership of 9,375 common stock equivalents from these derivative awards. The options are direct holdings and were issued with immediate exercisability, increasing the reporting person’s potential common-share exposure over the option term.

Jeff D. Goldberg, a Director of Modular Medical, Inc. (MODD), reported a securities transaction on Form 4 showing the grant of a stock option on 09/30/2025. The option has an exercise price of $0.70, covers 7,500 shares of common stock, and is exercisable immediately with an expiration date of 09/30/2035. The filing states the option was granted under the company’s Outside Director Compensation Plan and was fully vested and exercisable on the grant date. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Goldberg on 10/02/2025. Column 9 reports total beneficial ownership of the derivative class as 7,500 options.

Philip Brent Sheibley, a director of Modular Medical, Inc. (MODD), was granted an option to purchase 7,500 shares of common stock on 09/30/2025. The option has an exercise price of $0.70, was fully vested and exercisable on the grant date, and expires on 09/30/2035. The grant was made under the issuer's Outside Director Compensation Plan. The reported position after the transaction is 7,500 options held directly. The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Steven G. Felsher, a director of Modular Medical, Inc. (MODD), reported insider transactions dated 09/30/2025. He acquired 750 shares of common stock and was granted an option to purchase 7,500 shares at an exercise price of $0.70. The option was fully vested and exercisable on the grant date and has an expiration date of 09/30/2035. Following the reported non-derivative transaction, the reporting person beneficially owns 193,177 shares. Both the shares and the option were issued under the issuer's Outside Director Compensation Plan. The Form 4 was signed on behalf of Mr. Felsher by an attorney-in-fact on 10/02/2025.

Alyeska Investment Group, L.P., Alyeska Fund GP, LLC and Anand Parekh reported collective beneficial ownership of Modular Medical, Inc. common stock equal to 2,068,958 shares, representing 3.81% of the outstanding class based on 54,247,388 shares. The filing shows no sole voting or dispositive power; all voting and dispositive power is shared. An exhibit clarifies the holders directly own 1,548,125 shares and hold warrants to purchase 520,833 shares. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing control. Signatures for the filers are included.