[Form 4] Modular Medical, Inc. Insider Trading Activity

Rhea-AI Filing Summary

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.

Positive

• 7,500 options granted and reported, showing clear disclosure of director compensation
• Option was fully vested and exercisable on grant date, eliminating vesting uncertainty

Negative

• None.

Insights

Corporate Governance Expert

Director received a fully vested option grant of 7,500 shares at $0.70.

This filing shows a standard outside-director compensation action: an option grant made and fully vested on the grant date under the company's Outside Director Compensation Plan. The grant is reported as a direct holding of 7,500 options exercisable immediately and expiring on 09/30/2035.

Because the option was fully vested at grant, there are no vesting contingencies disclosed in the Form 4; the document records the transaction and resulting beneficial ownership only.

Securities Compliance Specialist

Form 4 properly discloses acquisition and post-grant ownership.

The report identifies the reporting person as Philip Brent Sheibley and checks the director box. Transaction details include acquisition code A, 7,500 options, exercise price $0.70, transaction date 09/30/2025, and filing signature dated 10/02/2025. The explanatory note states the option was granted under the Outside Director Compensation Plan and was fully vested and exercisable on the grant date.

This entry documents compliance with Section 16 reporting requirements by disclosing the option grant and resulting direct beneficial ownership.

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
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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).

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)
09/30/2025

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

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
Option to purchase common stock(1)	$0.7	09/30/2025		A		7,500		09/30/2025	09/30/2035	Common Stock	7,500	(1)	7,500(2)	D

Explanation of Responses:

1. The option was granted to the Reporting Person in accordance with the Issuer's Outside Director Compensation Plan, and the option was fully vested and exercisable on the grant date.

2. 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. Options 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	10/02/2025
	** 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 did Philip Brent Sheibley report on Form 4 for MODD?

He reported an acquisition of 7,500 options to purchase common stock on 09/30/2025, with an exercise price of $0.70, fully vested and exercisable on the grant date.

Under what plan were the options granted?

The Form 4 states the options were granted under the issuer's Outside Director Compensation Plan.

When do the options expire?

The options have an expiration date of 09/30/2035.

How is the ownership reported on the Form 4?

Column 9 reports total beneficial ownership of the derivative class as 7,500 options held directly (D).

Who signed the Form 4 and when?

The Form 4 was signed by an attorney-in-fact, James Sullivan, for Philip Sheibley on 10/02/2025.