Modular Medical (MODD) awards new stock options to senior executives
Filing Impact
Filing Sentiment
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.
Positive
- None.
Negative
- None.
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, and 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
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.