Modular Medical, Inc. Chief Operating Officer Kevin Schmid filed a Form 4 on November 9, 2026, disclosing the acquisition of a stock option to purchase 100,000 shares of common stock at an exercise price of $1.72, with a transaction date of October 29, 2026.

Key Highlights

  • Reporting person: Kevin Schmid, Chief Operating Officer of Modular Medical, Inc. (NASDAQ:MODD)
  • Transaction date: October 29, 2026, with the form filed November 9, 2026
  • Security acquired: Option to purchase 100,000 shares of common stock, acquired (transaction code A)
  • Exercise price: $1.72 per share, with a price of $0.00 paid for the derivative security itself
  • Expiration date: October 29, 2036
  • Vesting schedule: 1/3rd of shares vest on October 29, 2027, then 1/36th per month thereafter
  • Beneficial ownership following transaction: 100,000 derivative securities, held directly

Modular Medical COO Schmid Receives Stock Option Award Dated October 29, 2026

According to the Form 4 filing, Kevin Schmid, serving as Chief Operating Officer of Modular Medical, Inc., received an option to purchase 100,000 shares of the company's common stock. The transaction was dated October 29, 2026, and reported under transaction code "A," indicating acquisition. The option carries an exercise price of $1.72 per share and is set to expire on October 29, 2036, giving it a ten-year term from the grant date.

The filing discloses the vesting terms as follows: "This option shall vest as to 1/3rd of the shares subject to the option on October 29, 2027 and as to 1/36th of the shares subject to the option on a monthly basis thereafter." No consideration was paid for the derivative security itself, as the filing lists a price of $0.00. The form was signed by James Sullivan as attorney-in-fact for Kevin Schmid and filed on November 9, 2026.

The filing notes, in accordance with Instruction 4 to Form 4, that column 9 reports only the total beneficial ownership of the same "class" of derivative security, and that "options that have different exercise prices or vesting terms are not considered to be of the same 'class.'" Following the reported transaction, Schmid beneficially owns 100,000 of these options directly. No non-derivative securities transactions were reported in Table I of this filing.

What Was Disclosed

Modular Medical, Inc. COO Kevin Schmid disclosed the acquisition of a 10-year stock option to purchase 100,000 shares of common stock at $1.72 per share, granted October 29, 2026, with a graduated vesting schedule beginning October 29, 2027.