Filing Details
- Accession Number:
- 0000919574-25-002089
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2025-03-24 21:34:00
- Reporting Period:
- 2025-03-20
- Filing Date:
- 2025-03-24
- Accepted Time:
- 2025-03-24 21:34:00
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1074871 | Modular Medical Inc. | MODD | Surgical & Medical Instruments & Apparatus (3841) | 870620495 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1093241 | Jeb Partners, L.p. | 2 Calle Candina, #1701 San Juan PR 00907 | No | No | No | Yes | |
| 1169253 | Manchester Management Co Llc | 2 Calle Candina, #1701 San Juan PR 00907 | Chief Executive Officer | Yes | Yes | Yes | Yes |
| 1411524 | Manchester Explorer, L.p. | 2 Calle Candina, #1701 San Juan PR 00907 | No | No | No | Yes | |
| 1512127 | E James Besser | 2 Calle Candina, #1701 San Juan PR 00907 | Chief Executive Officer | No | Yes | Yes | No |
| 1593072 | C. Morgan Frank | 2 Calle Candina, #1701 San Juan PR 00907 | Yes | No | No | No | |
| 1735534 | Manchester Management Pr, Llc | 2 Calle Candina, #1701 San Juan PR 00907 | No | No | No | Yes |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $0.001 Per Share | Acquisiton | 2025-03-20 | 520,832 | $1.92 | 3,805,575 | No | 4 | P | Indirect | See footnote |
| Common Stock, Par Value $0.001 Per Share | Acquisiton | 2025-03-20 | 156,250 | $1.92 | 422,000 | No | 4 | P | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | P | Indirect | See footnote |
| No | 4 | P | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $0.001 Per Share | Common Stock Purchase Warrant | Acquisiton | 2025-03-20 | 260,416 | $1.12 | 260,416 | $1.12 |
| Common Stock, Par Value $0.001 Per Share | Common Stock Purchase Warrant | Acquisiton | 2025-03-20 | 78,125 | $1.12 | 78,125 | $1.12 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 260,416 | 2025-03-25 | 2029-03-25 | No | 4 | A | Indirect |
| 78,125 | 2025-03-25 | 2029-03-25 | No | 4 | A | Direct |
Reported Non-Derivative Holdings
| Sec. Name | Remaning Holdings | Nature of Ownership | Explanation |
|---|---|---|---|
| Common Stock, Par Value $0.001 Per Share | 330,473 | Indirect | See footnote |
| Common Stock, Par Value $0.001 Per Share | 206,226 | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.39 | 2024-12-31 | 2034-12-31 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.56 | 2024-06-30 | 2034-06-30 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.95 | 2024-03-31 | 2034-03-31 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.78 | 2023-12-29 | 2033-12-29 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.11 | 2033-10-02 | 135,136 | 135,136 | Direct | |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.16 | 2023-09-30 | 2033-09-30 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $0.93 | 2023-06-30 | 2033-06-30 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $1.44 | 2023-03-31 | 2033-03-31 | 9,375 | 9,375 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $2.14 | 2022-12-31 | 2032-12-31 | 1,875 | 1,875 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $2.14 | 2022-12-31 | 2032-12-31 | 7,500 | 7,500 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $4.34 | 2022-09-30 | 2032-09-30 | 1,875 | 1,875 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $4.34 | 2022-09-30 | 2032-09-30 | 7,500 | 7,500 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $5.16 | 2022-06-30 | 2032-06-30 | 3,634 | 3,634 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $5.16 | 2022-07-19 | 2032-07-19 | 7,500 | 7,500 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $4.18 | 2022-03-31 | 2032-03-31 | 4,486 | 4,486 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $4.18 | 2022-03-31 | 2032-03-31 | 17,943 | 17,943 | Direct |
| Common Stock, Par Value $0.001 Per Share | Common Stock Purchase Warrant | $6.60 | 2022-02-14 | 2027-02-14 | 234,274 | 234,274 | Indirect |
| Common Stock, Par Value $0.001 Per Share | Common Stock Purchase Warrant | $6.60 | 2022-02-10 | 2027-02-10 | 300,000 | 300,000 | Indirect |
| Common Stock, Par Value $0.001 Per Share | Common Stock Purchase Warrant | $8.61 | 2022-02-06 | 2027-02-06 | 119,237 | 119,237 | Indirect |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $7.51 | 2021-12-31 | 2031-12-31 | 9,987 | 9,987 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $7.51 | 2021-12-31 | 2031-12-31 | 2,497 | 2,497 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $2.98 | 2021-09-30 | 2031-09-30 | 8,389 | 8,389 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $2.98 | 2021-09-30 | 2031-09-30 | 2,097 | 2,097 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $5.90 | 2021-06-30 | 2031-06-30 | 5,297 | 5,297 | Direct |
| Common Stock, Par Value $0.001 Per Share | Option to purchase common stock | $2.87 | 2020-01-01 | 2030-05-12 | 50,000 | 50,000 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2034-12-31 | 9,375 | 9,375 | Direct |
| 2034-06-30 | 9,375 | 9,375 | Direct |
| 2034-03-31 | 9,375 | 9,375 | Direct |
| 2033-12-29 | 9,375 | 9,375 | Direct |
| 2033-10-02 | 135,136 | 135,136 | Direct |
| 2033-09-30 | 9,375 | 9,375 | Direct |
| 2033-06-30 | 9,375 | 9,375 | Direct |
| 2033-03-31 | 9,375 | 9,375 | Direct |
| 2032-12-31 | 1,875 | 1,875 | Direct |
| 2032-12-31 | 7,500 | 7,500 | Direct |
| 2032-09-30 | 1,875 | 1,875 | Direct |
| 2032-09-30 | 7,500 | 7,500 | Direct |
| 2032-06-30 | 3,634 | 3,634 | Direct |
| 2032-07-19 | 7,500 | 7,500 | Direct |
| 2032-03-31 | 4,486 | 4,486 | Direct |
| 2032-03-31 | 17,943 | 17,943 | Direct |
| 2027-02-14 | 234,274 | 234,274 | Indirect |
| 2027-02-10 | 300,000 | 300,000 | Indirect |
| 2027-02-06 | 119,237 | 119,237 | Indirect |
| 2031-12-31 | 9,987 | 9,987 | Direct |
| 2031-12-31 | 2,497 | 2,497 | Direct |
| 2031-09-30 | 8,389 | 8,389 | Direct |
| 2031-09-30 | 2,097 | 2,097 | Direct |
| 2031-06-30 | 5,297 | 5,297 | Direct |
| 2030-05-12 | 50,000 | 50,000 | Direct |
Footnotes
- 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.
- 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.
- 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.
- The reported securities are directly owned by James E. Besser in his personal capacity.
- 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.
- The reported securities are directly owned by Morgan C. Frank in his personal capacity.
- 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.
- 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.
- These Shares reflect a 3 for 1 reverse stock split effective November 26, 2021.
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