Form 4: Manchester Management and Affiliates Report Share Purchases in Modular Medical

Manchester Management and related entities have reported the purchase of 100,000 shares of Modular Medical, Inc. at $1.6895 per share, along with details of their existing holdings.

Summary

• Manchester Management Co LLC and related entities, including Manchester Explorer, L.P., JEB Partners, L.P., and individuals James E. Besser and Morgan C. Frank, have filed a Form 4 detailing changes in their beneficial ownership of Modular Medical, Inc. stock.
• On November 27, 2024, Manchester Explorer, L.P. purchased 100,000 shares of common stock at a price of $1.6895 per share.
• Following this transaction, Manchester Explorer, L.P. directly owns 244,750 shares, while other entities and individuals hold additional shares both directly and indirectly.
• James E. Besser directly owns 330,473 shares, and Morgan C. Frank directly owns 206,226 shares.
• Manchester Explorer, L.P. also indirectly holds 3,284,743 shares.
• The filing clarifies the relationships between the entities and individuals, noting that Manchester Management Co LLC is the general partner of both Manchester Explorer, L.P. and JEB Partners, L.P., and Manchester Management PR, LLC is the investment advisor to Manchester Management Co LLC.
• James E. Besser is the managing member of both Manchester Management Co LLC and Manchester Management PR, LLC.

Sentiment

Score: 6

Explanation: The document is a routine filing and does not contain any information that would indicate a strong positive or negative sentiment. The purchase of shares is a positive sign, but it is not a major event.

Positives

• The purchase of 100,000 shares by Manchester Explorer, L.P. indicates a positive investment in Modular Medical, Inc.
• The filing provides transparency regarding the ownership structure and holdings of key stakeholders.

Risks

• The document does not explicitly state any risks, but the concentration of ownership by Manchester Management and related entities could pose a risk if their investment strategy changes.

Management Comments

• 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.

Industry Context

This filing is a standard SEC Form 4, which is required when insiders or significant shareholders of a publicly traded company make changes to their holdings. It is a routine part of the regulatory landscape for publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the US, and this filing is consistent with the requirements of the SEC.
• The level of detail provided in the filing is typical for this type of disclosure, including the identification of direct and indirect ownership.

Stakeholder Impact

• The share purchase may have a slightly positive impact on shareholder confidence.

Key Dates

Keywords

Modular Medical, Manchester Management, Share Purchase, Beneficial Ownership, Form 4, James E. Besser, Morgan C. Frank, Manchester Explorer, JEB Partners