Manchester Explorer, L.P. 4

4 · Modular Medical, Inc. · Filed Mar 24, 2025

Insider Transaction Report

Form 4

Period: 2025-03-20

Modular Medical, Inc.MODD

MANCHESTER MANAGEMENT CO LLC

DirectorChief Executive Officer10% OwnerOther

Transactions

Purchase
Common Stock, par value $0.001 per share
2025-03-20$1.92/sh+520,832$999,997→ 3,805,575 total(indirect: See footnote)
Purchase
Common Stock, par value $0.001 per share
2025-03-20$1.92/sh+156,250$300,000→ 422,000 total
Award
Common Stock Purchase Warrant
2025-03-20$1.12/sh+260,416$291,666→ 260,416 total(indirect: See footnote)
Exercise: $1.12From: 2025-03-25Exp: 2029-03-25→ Common Stock, par value $0.001 per share (260,416 underlying)
Award
Common Stock Purchase Warrant
2025-03-20$1.12/sh+78,125$87,500→ 78,125 total
Exercise: $1.12From: 2025-03-25Exp: 2029-03-25→ Common Stock, par value $0.001 per share (78,125 underlying)

Holdings

Option to purchase common stock
Exercise: $1.16From: 2023-09-30Exp: 2033-09-30→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $2.14From: 2022-12-31Exp: 2032-12-31→ Common Stock, par value $0.001 per share (1,875 underlying)
1,875
Common Stock Purchase Warrant
(indirect: See footnote)
Exercise: $8.61From: 2022-02-06Exp: 2027-02-06→ Common Stock, par value $0.001 per share (119,237 underlying)
119,237
Common Stock, par value $0.001 per share
(indirect: See footnote)
330,473
Option to purchase common stock
Exercise: $1.39From: 2024-12-31Exp: 2034-12-31→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $1.78From: 2023-12-29Exp: 2033-12-29→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $1.11Exp: 2033-10-02→ Common Stock, par value $0.001 per share (135,136 underlying)
135,136
Option to purchase common stock
Exercise: $4.34From: 2022-09-30Exp: 2032-09-30→ Common Stock, par value $0.001 per share (1,875 underlying)
1,875
Common Stock Purchase Warrant
(indirect: See footnote)
Exercise: $6.60From: 2022-02-14Exp: 2027-02-14→ Common Stock, par value $0.001 per share (234,274 underlying)
234,274
Option to purchase common stock
Exercise: $0.93From: 2023-06-30Exp: 2033-06-30→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $2.14From: 2022-12-31Exp: 2032-12-31→ Common Stock, par value $0.001 per share (7,500 underlying)
7,500
Option to purchase common stock
Exercise: $4.34From: 2022-09-30Exp: 2032-09-30→ Common Stock, par value $0.001 per share (7,500 underlying)
7,500
Option to purchase common stock
Exercise: $5.16From: 2022-06-30Exp: 2032-06-30→ Common Stock, par value $0.001 per share (3,634 underlying)
3,634
Option to purchase common stock
Exercise: $2.98From: 2021-09-30Exp: 2031-09-30→ Common Stock, par value $0.001 per share (8,389 underlying)
8,389
Option to purchase common stock
Exercise: $2.87From: 2020-01-01Exp: 2030-05-12→ Common Stock, par value $0.001 per share (50,000 underlying)
50,000
Option to purchase common stock
Exercise: $4.18From: 2022-03-31Exp: 2032-03-31→ Common Stock, par value $0.001 per share (4,486 underlying)
4,486
Common Stock, par value $0.001 per share
206,226
Option to purchase common stock
Exercise: $1.56From: 2024-06-30Exp: 2034-06-30→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $1.95From: 2024-03-31Exp: 2034-03-31→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $1.44From: 2023-03-31Exp: 2033-03-31→ Common Stock, par value $0.001 per share (9,375 underlying)
9,375
Option to purchase common stock
Exercise: $4.18From: 2022-03-31Exp: 2032-03-31→ Common Stock, par value $0.001 per share (17,943 underlying)
17,943
Option to purchase common stock
Exercise: $5.16From: 2022-07-19Exp: 2032-07-19→ Common Stock, par value $0.001 per share (7,500 underlying)
7,500
Common Stock Purchase Warrant
(indirect: See footnote)
Exercise: $6.60From: 2022-02-10Exp: 2027-02-10→ Common Stock, par value $0.001 per share (300,000 underlying)
300,000
Option to purchase common stock
Exercise: $7.51From: 2021-12-31Exp: 2031-12-31→ Common Stock, par value $0.001 per share (9,987 underlying)
9,987
Option to purchase common stock
Exercise: $7.51From: 2021-12-31Exp: 2031-12-31→ Common Stock, par value $0.001 per share (2,497 underlying)
2,497
Option to purchase common stock
Exercise: $2.98From: 2021-09-30Exp: 2031-09-30→ Common Stock, par value $0.001 per share (2,097 underlying)
2,097
Option to purchase common stock
Exercise: $5.90From: 2021-06-30Exp: 2031-06-30→ Common Stock, par value $0.001 per share (5,297 underlying)
5,297

Footnotes (9)

[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.

Documents

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ownership.xmlPrimary