Modular Medical COO granted 4,674 stock options
Modular Medical, Inc. reported that its Chief Operating Officer, Kevin Schmid, received a grant of options to purchase 4,674 shares of common stock.
Rhea-AI Filing Summary
Modular Medical, Inc. reported that its Chief Operating Officer, Kevin Schmid, received a grant of options to purchase 4,674 shares of common stock. The options have an exercise price of $3.46 per share and expire on May 14, 2036.
According to the grant terms, one-third of the option shares will vest on May 14, 2027, with the remaining shares vesting in equal monthly installments of 1/36th thereafter. Following this grant, Schmid holds 4,674 options of this derivative security directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 4,674 shares
Grant/Award
1 txn
Insider
Schmid Kevin
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Option to purchase common stock | 4,674 | $0.00 | $0.00 |
Holdings After Transaction:
Option to purchase common stock — 4,674 contracts (Direct)
Footnotes (2)
- F1. This option shall vest as to 1/3rd of the shares subject to the option on May 14, 2027 and as to 1/36th of the shares subject to the option on a monthly basis thereafter.
- F2. 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."
Key Figures
Options granted: 4,674 options
Exercise price: $3.46 per share
Expiration date: May 14, 2036
+2 more
5 metrics
Options granted
4,674 options
Grant to COO Kevin Schmid
Exercise price
$3.46 per share
Option to purchase common stock
Expiration date
May 14, 2036
Option term end
Initial vesting date
May 14, 2027
One-third of option shares vest
Post-transaction derivative holding
4,674 options
Total of this derivative class following grant
Key Terms
Option to purchase common stock, exercise price, vesting, beneficial ownership, +1 more
5 terms
Option to purchase common stock financial
"security_title: Option to purchase common stock"
exercise price financial
"conversion_or_exercise_price: 3.4600"
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
"This option shall vest as to 1/3rd of the shares subject to the option"
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.
beneficial ownership financial
"column 9 reports only total beneficial ownership of the "class" of derivative security"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
derivative security financial
"beneficial ownership of the "class" of derivative security reported in Column 1"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Modular Medical (MODD) disclose in this Form 4 filing?
Modular Medical disclosed that its Chief Operating Officer, Kevin Schmid, received a grant of options to purchase 4,674 shares of common stock at an exercise price of $3.46 per share, expiring on May 14, 2036.
How many stock options did MODD COO Kevin Schmid receive?
Kevin Schmid received options to purchase 4,674 shares of Modular Medical common stock. These options are a derivative security that, when vested and exercised, allow him to acquire an equivalent number of common shares at a fixed exercise price.
What is the exercise price and expiration date of Kevin Schmid’s MODD options?
The granted options have an exercise price of $3.46 per share and expire on May 14, 2036. This means Schmid can buy shares at $3.46, once vested, any time before that expiration date.
How do the newly granted MODD options to Kevin Schmid vest over time?
One-third of the 4,674 option shares vest on May 14, 2027. The remaining two-thirds vest in equal monthly installments of 1/36th thereafter, creating a multi-year vesting schedule that encourages ongoing service with Modular Medical.
How many MODD options does Kevin Schmid hold after this transaction?
After this reported grant, column 9 shows beneficial ownership of 4,674 options of the derivative security class reported. Footnote language clarifies that options with different exercise prices or vesting terms are treated as separate classes for reporting purposes.
Is the Form 4 transaction for MODD a purchase or a grant of options?
The Form 4 shows a grant or award acquisition of options, coded as transaction type “A.” It is not an open-market purchase or sale, but a compensation-related option grant awarded to the Chief Operating Officer by Modular Medical.
AI-generated analysis. How Rhea-AI works. Not financial advice.
