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Director at Modular Medical (NASDAQ: MODD) awarded 83-share stock grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Modular Medical, Inc. director Duane M. DeSisto received a grant of common stock under the company’s Outside Director Compensation Plan. He acquired 83 shares at a price of $0.00 per share and now directly holds 8,627 common shares. A 1-for-30 reverse stock split on March 31, 2026 affected the reported share amounts.

Positive

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Negative

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Insider DeSisto Duane M
Role null
Type Security Shares Price Value
Grant/Award Common stock 83 $0.00 --
Holdings After Transaction: Common stock — 8,627 shares (Direct, null)
Footnotes (1)
  1. The Issuer issued these shares to the Reporting Person in accordance with its Outside Director Compensation Plan. Share amount reflects the impact of a 1-for-30 reverse stock split of the Issuer's common stock effected on March 31, 2026.
Shares granted 83 shares Common stock award to director on June 30, 2026
Grant price $0.00 per share Director stock grant under Outside Director Compensation Plan
Shares held after 8,627 shares Director’s direct holdings following the reported transaction
Reverse stock split ratio 1-for-30 Common stock reverse split effective March 31, 2026
Outside Director Compensation Plan financial
"The Issuer issued these shares to the Reporting Person in accordance with its Outside Director Compensation Plan."
reverse stock split financial
"Share amount reflects the impact of a 1-for-30 reverse stock split of the Issuer's common stock effected on March 31, 2026."
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
Grant, award, or other acquisition financial
"transaction_code_description": "Grant, award, or other acquisition""
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
Estimated average burden
hours per response:0.5
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*
DeSisto Duane M
(Last)(First)(Middle)
C/O MODULAR MEDICAL, INC.
10740 THORNMINT ROAD
(Street)
SAN DIEGO CALIFORNIA 92127
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Modular Medical, Inc. [ MODD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common stock06/30/2026A83A(1)8,627(2)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The Issuer issued these shares to the Reporting Person in accordance with its Outside Director Compensation Plan.
2. Share amount reflects the impact of a 1-for-30 reverse stock split of the Issuer's common stock effected on March 31, 2026.
/s/ James Sullivan, attorney-in-fact for Duane M. DeSisto07/02/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did the Modular Medical (MODD) Form 4 report for Duane M. DeSisto?

The Form 4 reports that director Duane M. DeSisto received a grant of 83 shares of Modular Medical common stock. The grant was made at $0.00 per share under the company’s Outside Director Compensation Plan and increased his direct holdings to 8,627 shares.

Was the MODD insider transaction a purchase or a grant of shares?

The transaction was a grant, not an open-market purchase. Duane M. DeSisto acquired 83 common shares at $0.00 per share as a compensation-related award under Modular Medical’s Outside Director Compensation Plan, rather than by buying shares in the market.

How many Modular Medical (MODD) shares does Duane M. DeSisto hold after this grant?

After the grant, Duane M. DeSisto directly holds 8,627 shares of Modular Medical common stock. This total includes the 83 shares awarded to him on June 30, 2026, as reported in the Form 4 insider transaction filing.

At what price were the Modular Medical (MODD) shares granted to the director?

The 83 Modular Medical common shares granted to director Duane M. DeSisto carried a transaction price of $0.00 per share. This reflects a compensation award under the Outside Director Compensation Plan, rather than a cash purchase of stock.

What impact did the reverse stock split have on the MODD Form 4 share amounts?

The footnotes explain that the reported share amounts reflect a 1-for-30 reverse stock split of Modular Medical’s common stock. This reverse split was effected on March 31, 2026, and the Form 4 numbers are already adjusted to that new share structure.