DiPerna Paul Form 5 Modular Medical / Paul DiPerna ownership change

SEC Form 5

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

DiPerna Paul

(Last) (First) (Middle)

C/O MODULAR MEDICAL, INC.

800 WEST VALLEY PARKWAY, SUITE 203

(Street)

ESCONDIDO CA 92025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Modular Medical, Inc. [ MODD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
See Remarks

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
03/31/2019

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option to purchase common stock(1)	$0.66	08/15/2018		A	18,013		08/15/2018	08/15/2028	Common Stock	18,013	$0.66	18,013(2)	D
Option to purchase common stock(1)	$0.66	09/15/2018		A	18,013		09/15/2018	09/15/2028	Common Stock	18,013	$0.66	36,026(2)	D
Option to purchase common stock(1)	$0.66	10/15/2018		A	18,013		10/15/2018	10/15/2028	Common Stock	18,013	$0.66	54,039(2)	D
Option to purchase common stock(1)	$2.25	11/15/2018		A	5,324		11/15/2018	11/15/2028	Common Stock	5,324	$2.25	5,324(2)	D
Option to purchase common stock(1)	$2.25	12/15/2018		A	5,324		12/15/2018	12/15/2028	Common Stock	5,324	$2.25	10,648(2)	D
Option to purchase common stock(1)	$2.25	01/15/2019		A	4,808		01/15/2019	01/15/2029	Common Stock	4,808	$2.25	15,456(2)	D
Option to purchase common stock(1)	$2.25	02/15/2019		A	4,921		02/15/2019	02/15/2029	Common Stock	4,921	$2.25	20,378(2)	D
Option to purchase common stock(1)	$2.25	03/15/2019		A	5,082		03/15/2019	03/15/2029	Common Stock	5,082	$2.25	25,459(2)	D

Explanation of Responses:

1. The option was fully vested and exercisable on the grant date, in accordance with the terms of an employment agreement between the Issuer and Mr. DiPerna.

2. In accordance with Instruction 4 to this Form, column 9 reports only total beneficial ownership of the "class" of derivative security reported in column 1. Options that have different exercise prices or vesting terms are not considered to be of the same "class." As a result of the grant reported herein, the Reporting Person currently has aggregate options to purchase a total of 79,498 shares of the Issuer.

Remarks:

Title: Chairman, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer

	/s/ Paul DiPerna	02/14/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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