Modular Medical (MODD) 10% Owner Frank Morgan Receives Option Awards

What Happened Frank Morgan, reported as a 10% owner of Modular Medical (MODD), was granted two derivative awards on 2026-09-30: 62 and 250 units (total 312) described as derivative securities (options/awards). No exercise price or dollar value is provided in the filing; the awards were granted under the issuer’s Outside Director Compensation Plan and were fully vested and exercisable on the grant date (footnote F1). This is an award/grant transaction (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-30; Form 4 filed 2026-10-01 (timely).
• Reported grants: 62 derivative units and 250 derivative units (total 312); price and dollar value listed as N/A.
• Vesting/exercise: Options were fully vested and immediately exercisable on grant date (F1).
• Shares owned after transaction: not specified in the provided details (filing’s column 9 reporting rules noted in F2).
• Footnotes: F1—grants under Outside Director Compensation Plan and fully vested on grant; F2—column 9 may report total beneficial ownership for that derivative class; different option terms/prices may be treated as different classes.
• Filing timeliness: not marked late.

Context These entries report option/award grants (derivative securities). Immediate vesting means Morgan could exercise the options right away, but the Form 4 does not report any exercise or sale of underlying shares. As a 10% owner receiving director-compensation awards, this is primarily compensation-related reporting rather than an open-market buy or sell; it should be interpreted as disclosure of granted rights, not a direct indicator of buying or selling intent.