Modular Medical grants stock options to top executives

Modular Medical, Inc. disclosed new stock option awards for two senior executives.

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Form Type

8-K

Rhea-AI Filing Summary

Modular Medical, Inc. disclosed new stock option awards for two senior executives. On May 14, 2026, the board granted 11,218 stock options to Chairman, President, Chief Financial Officer and Treasurer Paul DiPerna and 4,674 stock options to Chief Operating Officer Kevin Schmid.

The options carry an exercise price of $3.46 per share, vest with one-third of the shares on May 14, 2027 and the remaining shares vesting monthly over the following 24 months, contingent on continued service. The options expire on May 14, 2036 and were issued under the company’s Amended and Restated 2017 Equity Incentive Plan.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Options granted to Paul DiPerna: 11,218 stock options Options granted to Kevin Schmid: 4,674 stock options Exercise price: $3.46 per share +3 more

6 metrics

Options granted to Paul DiPerna 11,218 stock options Awarded on May 14, 2026

Options granted to Kevin Schmid 4,674 stock options Awarded on May 14, 2026

Exercise price $3.46 per share For both executive stock option grants

Initial vesting date May 14, 2027 One-third of each option grant vests

Subsequent vesting schedule 1/24 monthly Remaining shares vest monthly after May 14, 2027

Option expiration date May 14, 2036 Expiry of executive stock options

Key Terms

exercise price, vesting, Equity Incentive Plan, Inline XBRL

4 terms

exercise price financial

"The stock options have an exercise price of $3.46 per share of common stock"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"and vest as follows: one-third of the shares subject to the option on May 14, 2027 and as to 1/24th of the remaining shares"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Equity Incentive Plan financial

"awarded pursuant to the Company’s Amended and Restated 2017 Equity Incentive Plan, as amended"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

Inline XBRL technical

"The cover page of this on formatted in Inline XBRL"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive stock options did MODD grant on May 14, 2026?

Modular Medical granted 11,218 stock options to Paul DiPerna and 4,674 stock options to Kevin Schmid on May 14, 2026, as part of its Amended and Restated 2017 Equity Incentive Plan.

What is the exercise price of the new MODD executive stock options?

The new stock options for Modular Medical executives have an exercise price of $3.46 per share. This is the price at which the holders may buy common stock when the options are exercised.

How do the MODD executive stock options vest?

One-third of each option grant vests on May 14, 2027, with the remaining two-thirds vesting in equal monthly installments over the next 24 months. Vesting is conditioned on continued service through each vesting date.

When do the newly granted MODD stock options expire?

The stock options granted to Modular Medical executives on May 14, 2026 expire on May 14, 2036. After this expiration date, any unexercised options will no longer be exercisable.

Under which plan were the new MODD stock options issued?

The stock options were issued under Modular Medical’s Amended and Restated 2017 Equity Incentive Plan. This plan governs equity-based awards such as stock options granted to executives and other eligible participants.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/20/2026 - 04:30 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): May 14, 2026

MODULAR MEDICAL, INC.

(Exact Name of Registrant as Specified in Charter)

001-41277

(Commission File Number)

Nevada		87-0620495
(State or Other Jurisdiction of Incorporation)		(I.R.S. Employer Identification Number)

10740 Thornmint Road

San Diego, California 92127

(Address of principal executive offices, with zip code)

(858) 800-3500

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		MODD		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Stock Option Awards to Named Executive Officers

On May 14, 2026, the board of directors of Modular Medical, Inc. (the “Company”) awarded 11,218 stock options to Paul DiPerna, the Company’s Chairman, President, Chief Financial Officer and Treasurer, and 4,674 stock options to Kevin Schmid, the Company’s Chief Operating Officer. The stock options have an exercise price of $3.46 per share of common stock and vest as follows: one-third of the shares subject to the option on May 14, 2027 and as to 1/24th of the remaining shares subject to the option on a monthly basis thereafter, subject to continued service on each vesting date. The stock options expire on May 14, 2036. The stock options were awarded pursuant to the Company’s Amended and Restated 2017 Equity Incentive Plan, as amended.

The foregoing description of the stock option awards does not purport to be complete and is qualified in its entirety by reference to the full text of the form of Notice of Grant of Stock Option Award and Agreement, which is attached hereto as Exhibit 10.1, and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1		Form of Notice of Grant of Stock Option Award and Agreement pursuant to the Modular, Medical Inc. Amended and Restated 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.16 to the Company’s Form 10-Q filed on February 13, 2020).
104		The cover page of this Current Report on Form 8-K formatted in Inline XBRL 1.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MODULAR MEDICAL, INC.

Date: May 20, 2026	By:	/s/ James Besser
		James Besser
		Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents