Schmid Kevin 4

What Happened

• Kevin Schmid, Chief Operating Officer of Modular Medical, was granted a derivative award (an option) covering 4,674 shares on May 14, 2026. The grant is reported at $0.00 (no cash paid on grant); this is an equity award, not an open-market purchase or sale.

Key Details

• Transaction date: May 14, 2026; Form 4 filed May 18, 2026 (timely).
• Security: Derivative (option) for 4,674 shares; acquisition price shown as $0.00.
• Vesting (footnote F1): 1/3 of the option vests on May 14, 2027, then 1/36 of the shares vests monthly thereafter.
• Shares owned after transaction: Not specified in the provided summary. Footnote F2 notes column 9 reports total beneficial ownership by "class" of derivative security only; options with different exercise prices or vesting terms are not grouped as the same class.
• No indication of immediate sale or cashless exercise in this filing.

Context

• This is a standard equity compensation award to an executive and represents future potential ownership as the options vest; it is not a current purchase or sale that signals immediate trading intent. The filing does not disclose an exercise price or whether different option tranches exist—see footnote F2 for how beneficial ownership is reported.