Modular Medical (MODD) director awarded fully vested options for 250 shares

Rhea-AI Filing Summary

Modular Medical, Inc. director Philip Brent Sheibley received an option grant covering 250 shares of common stock. The option was granted under the company’s Outside Director Compensation Plan, is fully vested, and became exercisable on the grant date at an exercise price of $4.88 per share.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sheibley Philip Brent

Role null

Type	Security	Shares	Price	Value
Grant/Award	Option to purchase common stock	250	$0.00	--

Holdings After Transaction: Option to purchase common stock — 250 shares (Direct, null)

Footnotes (1)

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. 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: 250 shares Exercise price: $4.88 per share Expiration date: June 30, 2036 +1 more

4 metrics

Option grant size 250 shares Options to purchase common stock granted to director

Exercise price $4.88 per share Exercise price for the option grant

Expiration date June 30, 2036 Option expiration for director grant

Beneficial derivative holdings 250 options Total beneficial ownership of this class of derivative security

Key Terms

Outside Director Compensation Plan, beneficial ownership, derivative security, vested and exercisable

4 terms

Outside Director Compensation Plan financial

"The option was granted to the Reporting Person in accordance with the Issuer's Outside Director Compensation Plan"

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

"total 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.

vested and exercisable financial

"the option was fully vested and exercisable on the grant date"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:33 PM Accepted by SEC EDGAR 07/02/2026 - 04:31 PM Learn about SEC filing dates

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
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^*

Sheibley Philip Brent

(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)

X	Director		10% 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)

X	Form 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)
			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)	$4.88	06/30/2026		A		250		06/30/2026	06/30/2036	Common Stock	250	(1)	250(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	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Modular Medical (MODD) director Philip Brent Sheibley report in this Form 4?

Director Philip Brent Sheibley reported receiving an option to purchase 250 shares of Modular Medical common stock. The option is a compensation-related award, not an open-market trade, and reflects equity-based pay for outside board service under the company’s director compensation plan.

How many shares are covered by the new stock option for Modular Medical (MODD)?

The reported stock option covers 250 shares of Modular Medical common stock. This means the director can purchase up to 250 shares at the specified exercise price, subject to the option’s terms and expiration date as disclosed in the filing’s derivative transaction details.

What is the exercise price and term of the reported Modular Medical (MODD) option grant?

The option has an exercise price of $4.88 per share and expires on June 30, 2036. It was fully vested and exercisable on the grant date, giving the director a long-dated right to buy Modular Medical shares at that fixed price.

Is the Modular Medical (MODD) option grant to director Sheibley an open-market purchase or sale?

The transaction is a grant or award acquisition, not an open-market purchase or sale. It represents compensation in the form of stock options awarded under the Outside Director Compensation Plan rather than a discretionary trade on the open market by the director.

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

Following the grant, the director’s total beneficial ownership of this class of derivative security is 250 options. The filing notes that options with different exercise prices or vesting terms are treated as separate classes when reporting total beneficial ownership.