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Modular Medical, Inc. director and ten percent owner C. Frank Morgan received fully vested options to purchase an additional 312 shares of common stock as compensation. The awards consist of options for 62 shares and 250 shares, each with an exercise price of $4.55 per share, granted under the company’s Outside Director Compensation Plan.
Modular Medical, Inc. director Ellen O'Connor Vos received a grant of options to purchase 250 shares of common stock. The options have an exercise price of $4.55 per share, were fully vested and exercisable on the March 31, 2026 grant date, and expire on March 31, 2036. After this award, she beneficially owns 250 options of this class of derivative security.
Modular Medical, Inc. director Jeff D. Goldberg received an option grant for 250 shares of common stock on March 31, 2026. The option has an exercise price of $4.55 per share, was granted under the company’s Outside Director Compensation Plan, and was fully vested and exercisable on the grant date. Following this grant, he beneficially owns 250 derivative securities of this option class.
Modular Medical, Inc. director Philip Brent Sheibley received an option grant to purchase 250 shares of common stock on the company’s stock. The option has an exercise price of $4.55 per share, was granted under the company’s Outside Director Compensation Plan, and was fully vested and exercisable on the grant date.
Following the grant, Sheibley beneficially owns 250 options of this class of derivative security, according to the Form 4.
Modular Medical, Inc. director Steven G. Felsher reported compensation-related equity awards. He received an option to purchase 250 shares of common stock at an exercise price of $4.55 per share, fully vested and exercisable on the grant date, under the Outside Director Compensation Plan. He was also granted 25 shares of common stock with no purchase price. After this grant, he directly owns 8,473 shares of common stock. The reported share amounts reflect the impact of a 1-for-30 reverse stock split effective March 31, 2026.
DeSisto Duane M reported acquisition or exercise transactions in this Form 4 filing.
Modular Medical, Inc. director Duane M. DeSisto received a grant of 83 shares of common stock on March 31, 2026 as compensation under the company’s Outside Director Compensation Plan. The grant was at no cash cost per share and brought his directly held stake to 8,544 shares.
A 1-for-30 reverse stock split of Modular Medical’s common stock, effective March 31, 2026, is reflected in the reported share amounts, meaning both the grant and total holdings are shown on a post-split basis.
Volkart Carmen B reported acquisition or exercise transactions in this Form 4 filing.
Modular Medical, Inc. director Carmen B. Volkart received a grant of 103 shares of Common Stock on March 31, 2026 as a compensation award. The shares were issued under the company’s Outside Director Compensation Plan and brought Volkart’s direct holdings to 806 shares. The share amounts reflect a 1-for-30 reverse stock split of the common stock that was effected on the same date.
Modular Medical, Inc. is implementing a 1-for-30 reverse stock split of its common stock. The change became effective at 5:30 a.m. Eastern Time on March 31, 2026, and the shares now trade on a split-adjusted basis on Nasdaq under the same symbol, MODD, with new CUSIP 60785L306.
The reverse split reduces outstanding common shares from 139,810,797 to approximately 4,660,360, while leaving the number of authorized shares and the $0.001 par value unchanged. It was approved by shareholders and the board and is intended to raise the per-share price to meet Nasdaq’s $1.00 minimum bid price requirement.
Every 30 pre-split shares are combined into one post-split share, with proportional voting and other rights maintained. Equity awards, plan reserves, and warrants are adjusted accordingly, and holders of fractional shares receive cash instead of partial shares. The company’s transfer agent will manage the exchange process for shareholders.
Modular Medical, Inc. Schedule 13G filed by Pathfinder Asset Management Limited reports beneficial ownership of 8,993,263 common shares, representing approximately 6.43% of the outstanding common stock as of Mar. 23, 2026. The filing identifies Pathfinder as a Canada-based registered investment adviser and shows sole voting and dispositive power over the reported shares.
Modular Medical, Inc. reported a major workforce reduction to cut costs and extend its cash resources. On March 12, 2026 the company laid off 20 employees, representing approximately 29% of its workforce. Management expects this move to lower annual operating expenses by about $3.4 million, helping align spending with projects viewed as having higher return on investment. The company anticipates one-time severance and related charges of roughly $0.1 million to $0.2 million, with most of these costs incurred by the quarter ending June 30, 2026. Actual charges and savings may differ materially from these estimates.