---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-23-002171"
form_type: "8-K"
ticker: "MODD"
cik: "0001074871"
company_name: "Modular Medical, Inc."
filed_at: "2023-10-05T23:59:59+00:00"
generated_at: "2026-06-10T03:46:28.688870+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Modular Medical adopts FDA milestone bonus program; execs get options tied to MODD-1 clearance

## Summary
- CEO Besser receives 135,136 options for 510(k) submission by Jan 31, 2024; no options for clearance milestone.
- Chairman/CFO DiPerna gets 90,091 submission options + 45,046 clearance options; COO Schmid gets 37,538 + 18,769.
- Options priced at $1.11/share, 10-year term; cancellable if milestones missed.
- Non-executive employee aggregate bonus pool ~$757,000 in cash or options at employee election.
- Milestone 2 requires FDA clearance of MODD-1 insulin pump by August 1, 2024.

## SEC filing metadata
- accession: 0001013762-23-002171
- form_type: 8-K
- ticker: MODD
- cik: 0001074871
- company_name: Modular Medical, Inc.
- filed_at: 2023-10-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1074871/000101376223002171/0001013762-23-002171-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074871/000101376223002171/ea186338-8k_modular.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-23-002171
- JSON: https://secwatch.observer/filing/0001013762-23-002171.json
- Plain text: https://secwatch.observer/filing/0001013762-23-002171.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.