Modular Medical (NASDAQ: MODD) director buys shares and warrants in offering

Rhea-AI Filing Summary

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.

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

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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^*

Sheibley Philip Brent

(Last) (First) (Middle)

C/O MODULAR MEDICAL, INC.

10740 THORNMINT ROAD

(Street)

SAN DIEGO, CA 92127

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Modular Medical, Inc. [ MODD ]

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)
12/11/2025

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(1)	12/11/2025		A		22,000	A	(1)	97,513	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
Warrants to purchase Common Stock(2)	$0.45	12/11/2025		A		11,000		12/11/2025	12/11/2030	Common Stock	11,000	(1)(2)	11,000(3)	D

Explanation of Responses:

1. On December 11, 2025, Reporting Person purchased in an underwritten public offering (a) 60,000 shares of the Issuer's common stock, par value $0.001 per share ("Common Stock") and (b) warrants (each, a "Warrant") to purchase 30,000 shares of Common Stock, at an offering price of $0.77 for each two shares of Common Stock and one Warrant.

2. The Warrants were purchased by the Reporting Person from the Issuer in an underwritten public offering, were immediately exercisable and expire on the date that is five years from the date of issuance.

3. In accordance with Instruction 4 to this Form, column 9 reports only total beneficial ownership of the "class" of derivative security reported in column 1. Securities that have different exercise prices or vesting terms are not considered to be of the same "class."

	/s/ James Sullivan, attorney-in-fact for Philip Sheibley	12/15/2025
	** 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).
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FAQ

What insider transaction did Modular Medical (MODD) disclose in this filing?

The filing reports that director Philip Sheibley acquired common stock and warrants of Modular Medical, Inc. in an underwritten public offering on December 11, 2025.

How many Modular Medical (MODD) shares did director Philip Sheibley acquire?

On December 11, 2025, director Philip Sheibley acquired 22,000 shares of Modular Medical common stock, bringing his direct holdings to 97,513 shares.

What are the key terms of the warrants reported for Modular Medical (MODD)?

Sheibley acquired warrants with a $0.45 exercise price covering 11,000 shares of common stock. The warrants were immediately exercisable and expire on December 11, 2030.

What additional purchase details were disclosed for Modular Medical (MODD)?

The filing notes that on December 11, 2025, Sheibley 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 and one warrant.

How many derivative securities does the Modular Medical (MODD) director hold after the transaction?

After the reported transaction, director Philip Sheibley beneficially owned 11,000 derivative securities in the form of warrants to purchase Modular Medical common stock.

What is the relationship of the reporting person to Modular Medical (MODD)?

The reporting person, Philip Sheibley, is identified as a director of Modular Medical, Inc. in this filing.