---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-072999"
form_type: "8-K"
ticker: "MODD"
cik: "0001074871"
company_name: "Modular Medical, Inc."
filed_at: "2024-08-27T23:59:59+00:00"
generated_at: "2026-05-31T07:20:35.659930+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Modular Medical missed FDA clearance deadline for MODD-1; grants new options with Dec 31, 2024 vesting

## Summary
- Milestone 2 options (FDA clearance by Aug 1, 2024) canceled on Aug 2, 2024; no clearance received.
- On Aug 22, 2024, granted 58,560 options to Paul DiPerna and 24,400 to Kevin Schmid at $1.71 strike.
- Also granted options for 256,338 shares to non-executive employees, same $1.71 strike and vesting conditions.
- New options vest only if FDA notification received by Dec 31, 2024; otherwise terminate Jan 1, 2025.
- Previous Milestone 1 options (Jan 19, 2024) vested; exercise price was $1.11.

## SEC filing metadata
- accession: 0001213900-24-072999
- form_type: 8-K
- ticker: MODD
- cik: 0001074871
- company_name: Modular Medical, Inc.
- filed_at: 2024-08-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1074871/000121390024072999/0001213900-24-072999-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074871/000121390024072999/ea0212472-8k_modular.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-072999
- JSON: https://secwatch.observer/filing/0001213900-24-072999.json
- Plain text: https://secwatch.observer/filing/0001213900-24-072999.txt

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