Manchester Management Co Llc - Mar 20, 2025 Form 4 Insider Report for Modular Medical, Inc. (MODD)

Role
Chief Executive Officer, Director, Director by Deputization, 10%+ Owner
Signature
Manchester Management Company, LLC By: /s/ James E. Besser, Managing Member
Stock symbol
MODD
Transactions as of
Mar 20, 2025
Transactions value $
$1,679,163
Form type
4
Date filed
3/24/2025, 09:34 PM
Previous filing
Dec 4, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODD Common Stock, par value $0.001 per share Purchase $1M +521K +15.86% $1.92 3.81M Mar 20, 2025 See footnote F1, F2
transaction MODD Common Stock, par value $0.001 per share Purchase $300K +156K +58.8% $1.92 422K Mar 20, 2025 Direct F3, F4
holding MODD Common Stock, par value $0.001 per share 330K Mar 20, 2025 See footnote F5
holding MODD Common Stock, par value $0.001 per share 206K Mar 20, 2025 Direct F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MODD Common Stock Purchase Warrant Award $292K +260K $1.12 260K Mar 20, 2025 Common Stock, par value $0.001 per share 260K $1.12 See footnote F1, F2
transaction MODD Common Stock Purchase Warrant Award $87.5K +78.1K $1.12 78.1K Mar 20, 2025 Common Stock, par value $0.001 per share 78.1K $1.12 Direct F3, F4
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $1.39 Direct F6, F7
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $1.56 Direct F6, F7
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $1.95 Direct F6, F7
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $1.78 Direct F6, F7
holding MODD Option to purchase common stock 135K Mar 20, 2025 Common Stock, par value $0.001 per share 135K $1.11 Direct F4, F8
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $1.16 Direct F6, F7
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $0.93 Direct F6, F7
holding MODD Option to purchase common stock 9.38K Mar 20, 2025 Common Stock, par value $0.001 per share 9.38K $1.44 Direct F6, F7
holding MODD Option to purchase common stock 1.88K Mar 20, 2025 Common Stock, par value $0.001 per share 1.88K $2.14 Direct F6, F7
holding MODD Option to purchase common stock 7.5K Mar 20, 2025 Common Stock, par value $0.001 per share 7.5K $2.14 Direct F6, F7
holding MODD Option to purchase common stock 1.88K Mar 20, 2025 Common Stock, par value $0.001 per share 1.88K $4.34 Direct F6, F7
holding MODD Option to purchase common stock 7.5K Mar 20, 2025 Common Stock, par value $0.001 per share 7.5K $4.34 Direct F6, F7
holding MODD Option to purchase common stock 3.63K Mar 20, 2025 Common Stock, par value $0.001 per share 3.63K $5.16 Direct F6, F7
holding MODD Option to purchase common stock 7.5K Mar 20, 2025 Common Stock, par value $0.001 per share 7.5K $5.16 Direct F6, F7
holding MODD Option to purchase common stock 4.49K Mar 20, 2025 Common Stock, par value $0.001 per share 4.49K $4.18 Direct F6, F7
holding MODD Option to purchase common stock 17.9K Mar 20, 2025 Common Stock, par value $0.001 per share 17.9K $4.18 Direct F6, F7
holding MODD Common Stock Purchase Warrant 234K Mar 20, 2025 Common Stock, par value $0.001 per share 234K $6.60 See footnote F2
holding MODD Common Stock Purchase Warrant 300K Mar 20, 2025 Common Stock, par value $0.001 per share 300K $6.60 See footnote F2
holding MODD Common Stock Purchase Warrant 119K Mar 20, 2025 Common Stock, par value $0.001 per share 119K $8.61 See footnote F2
holding MODD Option to purchase common stock 9.99K Mar 20, 2025 Common Stock, par value $0.001 per share 9.99K $7.51 Direct F6, F7
holding MODD Option to purchase common stock 2.5K Mar 20, 2025 Common Stock, par value $0.001 per share 2.5K $7.51 Direct F6, F7
holding MODD Option to purchase common stock 8.39K Mar 20, 2025 Common Stock, par value $0.001 per share 8.39K $2.98 Direct F6, F7, F9
holding MODD Option to purchase common stock 2.1K Mar 20, 2025 Common Stock, par value $0.001 per share 2.1K $2.98 Direct F6, F7, F9
holding MODD Option to purchase common stock 5.3K Mar 20, 2025 Common Stock, par value $0.001 per share 5.3K $5.90 Direct F6, F7, F9
holding MODD Option to purchase common stock 50K Mar 20, 2025 Common Stock, par value $0.001 per share 50K $2.87 Direct F6, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Manchester Explorer, L.P. ("Explorer") acquired 260,416 units consisting of two shares of Common Stock, par value $0.001 per share and one warrant to purchase one share of Common Stock, par value $0.001 per share. It is anticipated that the warrants will become exercisable on or about March 25, 2025.
F2 The reported securities are owned directly by Explorer and may be deemed to be indirectly beneficially owned by (i) Manchester Management Company LLC ("Manchester Management"), the general partner of Explorer, (ii) Manchester Management PR, LLC ("Manchester PR"), the investment adviser to Manchester Management, (iii) and James E. Besser, the managing member of Manchester Management and Manchester PR. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F3 James E. Besser acquired 78,125 units consisting of two shares of Common Stock, par value $0.001 per share and one warrant to purchase one share of Common Stock, par value $0.001 per share. It is anticipated that the warrants will become exercisable on or about March 25, 2025.
F4 The reported securities are directly owned by James E. Besser in his personal capacity.
F5 The reported securities are owned directly by JEB Partners and may be deemed to be indirectly beneficially owned by (i) Manchester Management, the general partner of JEB Partners, (ii) Manchester PR, the investment adviser to Manchester Management, and (iii) James E. Besser, the managing member of Manchester Management and Manchester PR. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F6 The reported securities are directly owned by Morgan C. Frank in his personal capacity.
F7 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.
F8 This option has vested since (i) all verification and validation testing for the Registrant's initial pump product was completed by December 31, 2023 and (ii) the 510(K) premarket submission to the U.S. Food and Drug Administration ("FDA") for the Registrant's initial pump product was completed by January 31, 2024.
F9 These Shares reflect a 3 for 1 reverse stock split effective November 26, 2021.

Remarks:

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