Jeff Goldberg Receives 7,500 MODD Options Exercisable Immediately

Rhea-AI Filing Summary

Jeff D. Goldberg, a Director of Modular Medical, Inc. (MODD), reported a securities transaction on Form 4 showing the grant of a stock option on 09/30/2025. The option has an exercise price of $0.70, covers 7,500 shares of common stock, and is exercisable immediately with an expiration date of 09/30/2035. The filing states the option was granted under the company’s Outside Director Compensation Plan and was fully vested and exercisable on the grant date. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Goldberg on 10/02/2025. Column 9 reports total beneficial ownership of the derivative class as 7,500 options.

Positive

• Option grant fully vested on grant date, providing immediate economic alignment between the director and shareholders
• Clear disclosure of terms: exercise price $0.70, amount 7,500, exercisable 09/30/2025, expires 09/30/2035

Negative

• None.

Insights

Corporate Governance Expert

Insider received a fully vested director option for 7,500 shares at $0.70.

The grant under the Outside Director Compensation Plan indicates routine director compensation rather than a performance award; the filing explicitly states the option was fully vested and exercisable on the grant date. This means no future service-based vesting conditions are disclosed in this filing, so the reported economic interest is immediately crystallized.

The option expires on 09/30/2035, giving a ten-year exercise window, and the Form 4 was executed by an attorney-in-fact on 10/02/2025.

Equity Compensation Analyst

Grant size is 7,500 options; exercise price $0.70; immediate vesting.

From a compensation perspective, the option’s immediate vesting simplifies valuation and potential dilution tracking: the filing reports 7,500 options in the derivative class (column 9). The document notes that options with differing prices/vesting are treated separately, so this line represents only this specific grant.

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

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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^*

Goldberg Jeff D

(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 Jeff D. Goldberg	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 Jeff D. Goldberg report on the Form 4 for MODD?

The Form 4 reports a grant of an option for 7,500 shares with an exercise price of $0.70, granted and fully vested on 09/30/2025.

Is the option exercisable immediately according to the filing?

Yes. The filing states the option was fully vested and exercisable on the grant date.

What is the expiration date of the option disclosed in the Form 4?

The option expires on 09/30/2035, providing a ten-year exercise period from the grant date.

Under what plan was the option granted?

The option was granted under the issuer’s Outside Director Compensation Plan, per the filing.

Who signed the Form 4 and when?

The Form 4 was signed by James Sullivan, Attorney in Fact for Jeff D. Goldberg on 10/02/2025.