Director C. Frank Morgan receives stock options at Modular Medical (MODD)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Modular Medical, Inc. director and 10% owner C. Frank Morgan received new stock option awards as part of his outside director compensation. On June 30, 2026, he was granted options for 250 shares of common stock and a separate grant for 62 shares, each with an exercise price of $4.88 per share. The footnotes state these options were granted under the company’s Outside Director Compensation Plan and were fully vested and exercisable on the grant date. Following the grants, his reported beneficial ownership for these option classes is 312 options for one class and 62 options for the other.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
FRANK MORGAN C.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Option to purchase common stock | 62 | $0.00 | -- |
| Grant/Award | Option to purchase common stock | 250 | $0.00 | -- |
Holdings After Transaction:
Option to purchase common stock — 62 shares (Direct, null)
Footnotes (1)
- The options were granted to the Reporting Person in accordance with the Issuer's Outside Director Compensation Plan, and the options were fully vested and exercisable on the grant date. 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
Option grant size 1: 250 options
Option grant size 2: 62 options
Exercise price: $4.88 per share
+3 more
6 metrics
Option grant size 1
250 options
Grant of options to purchase common stock on June 30, 2026
Option grant size 2
62 options
Additional grant of options on June 30, 2026
Exercise price
$4.88 per share
Conversion or exercise price for both option grants
Expiration date
June 30, 2036
Expiration for each option grant
Options owned (class 1)
312 options
Total beneficial ownership of this option class after transaction
Options owned (class 2)
62 options
Total beneficial ownership of second option class after transaction
Key Terms
Outside Director Compensation Plan, fully vested and exercisable, beneficial ownership, derivative security, +1 more
5 terms
Outside Director Compensation Plan financial
"The options were granted to the Reporting Person in accordance with the Issuer's Outside Director Compensation Plan"
fully vested and exercisable financial
"the options were fully vested and exercisable on the grant date"
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.
vesting terms financial
"Options that have different exercise prices or vesting terms are not considered to be of the same "class.""
FAQ
What did C. Frank Morgan report in this Modular Medical (MODD) Form 4?
C. Frank Morgan reported receiving two grants of stock options to purchase Modular Medical common shares. The awards were issued under the Outside Director Compensation Plan and represent routine, compensation-related acquisitions rather than open-market purchases or sales of stock.
How many stock options did C. Frank Morgan receive from Modular Medical (MODD)?
He received one grant for 250 options and a second grant for 62 options. Each option relates to one share of Modular Medical common stock, giving him additional equity-based compensation tied directly to the company’s share performance over time.
What is the exercise price of the options granted to the Modular Medical (MODD) director?
Both option grants carry an exercise price of $4.88 per share. This means Morgan can later buy Modular Medical common stock at $4.88, regardless of the market price at the time of exercise, subject to the options’ terms and expiration.
When do C. Frank Morgan’s Modular Medical (MODD) options expire?
Each option grant is scheduled to expire on June 30, 2036. After that date the options can no longer be exercised. The relatively long term gives the director an extended period to decide if and when to exercise the options.
Were the Modular Medical (MODD) options to C. Frank Morgan vested immediately?
Yes. The footnotes explain the options were fully vested and exercisable on the grant date. This immediate vesting means Morgan could choose to exercise the options any time before their June 30, 2036 expiration, subject to applicable company and legal requirements.
How many options does C. Frank Morgan beneficially own in Modular Medical (MODD) after these grants?
After these grants, he is shown as beneficially owning 312 options in one option class and 62 in another. The filing notes that options with different exercise prices or vesting terms are reported as different classes of derivative securities.