Form 4: Modular Medical Director Acquires Stock Options
Statement of Changes in Beneficial Ownership
Philip Brent Sheibley, a Director at Modular Medical, Inc., acquired 250 stock options on June 30, 2026, under the company's Outside Director Compensation Plan.
Summary
- Philip Brent Sheibley, a Director of Modular Medical, Inc., was granted 250 stock options on June 30, 2026.
- The options have an exercise price of $4.88 and are exercisable immediately.
- The options are set to expire on June 30, 2036.
- These options were granted under the company's Outside Director Compensation Plan and are fully vested.
- Following this transaction, Sheibley beneficially owns 250 shares of common stock represented by these options.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it reports a standard compensation event for a director rather than significant financial or strategic news.
Positives
- Director Philip Brent Sheibley received stock options, indicating continued alignment of management and board interests with shareholder value.
- The options are fully vested and immediately exercisable, providing direct potential upside for the director.
- The grant is part of a structured compensation plan for outside directors, suggesting a formalized approach to incentivizing board members.
Future Outlook
The filing itself does not contain forward-looking statements or guidance. It is a report of a transaction.
Industry Context
StockSavvy.ai notes that the issuance of stock options to directors is a common practice in the biotechnology and medical device sectors, aligning director compensation with company performance and stock price appreciation.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Director Compensation Plan | Grant of stock options to Director Philip Brent Sheibley under the Issuer's Outside Director Compensation Plan. | 06/30/2026 | Standard practice for director compensation, aims to align director interests with shareholders. |
Related Party Transactions
- Grant of 250 stock options to Director Philip Brent Sheibley with an exercise price of $4.88, exercisable immediately and expiring on June 30, 2036, under the company's Outside Director Compensation Plan.
Stakeholder Impact
- Shareholders: The issuance of options to a director is a standard compensation practice that can align director incentives with shareholder interests in stock price appreciation.
- Employees: No direct impact mentioned.
- Management: No direct impact mentioned.
- Creditors: No direct impact mentioned.
Key Dates
| Date | Description |
|---|---|
| 06/30/2026 | Date of earliest transaction; Date of grant and vesting of stock options. |
| 06/30/2036 | Expiration date of the granted stock options. |
| 07/02/2026 | Date of filing of the Form 4. |
Keywords
stock options, director compensation, Modular Medical, MODD, SEC Form 4, beneficial ownership, equity award
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