Kevin Schmid - Apr 24, 2025 Form 4 Insider Report for Modular Medical, Inc. (MODD)

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	Option to purchase common stock	Award	$0	+50K		$0.00	50K	Apr 24, 2025	Common Stock	50K	$0.94	Direct	F1, F2
transaction	MODD	Option to purchase common stock	Award	$0	+50K		$0.00	50K	Apr 24, 2025	Common Stock	50K	$0.94	Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	This option shall vest as to all of the shares subject to the option if the Registrant receives notification of U.S. Food and Drug Administration clearance of the 510(K) premarket submission for its MODDi pump product on or before October 31, 2025. If notification is not received on or before that date, the Option will not vest as to any of the shares subject to the option and will terminate on November 1, 2025.
F2	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."
F3	This option shall vest as to all of the shares subject to the option if the Registrant's manufacturing line has been validated on or before March 15, 2026 for the MODDi pump product with the capacity to produce a supply of product to serve 6,000 patients. If validation does not occur on or before that date, the option will not vest as to any of the shares subject to the option and will terminate on March 16, 2026.