{"url_path":"/sec/modd/10-k/2026/item-5","section_key":"item-5","section_title":"Item 5 MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-29","source_url":"https://www.sec.gov/Archives/edgar/data/1074871/0001213900-26-073223-index.html","accession_number":"0001213900-26-073223","cik":"0001074871","ticker":"MODD","issuer_name":"Modular Medical, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1074871/0001213900-26-073223-index.html","primary_entity_key":"0001074871","primary_entity_name":"Modular Medical, Inc."},"word_count":560,"has_tables":true,"body_markdown":"ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES\n\n \n\nMarket Information for Common Stock\n\n \n\nOur common stock is currently listed on the Nasdaq\nCapital Market under the symbol “MODD.”\n\n \n\nAuthorized Capital\n\n \n\nWe are authorized by our Certificate of\nIncorporation to issue an aggregate of up to 5,000,000 shares of preferred stock, $0.001 par value per share, and 250,000,000 shares\nof common stock, $0.001 par value per share. As of March 31, 2026, zero and 4,661,160 shares of preferred stock and common stock,\nrespectively, were issued and outstanding.\n\n \n\nHolders of Record\n\n \n\nAs of March 31, 2026, we had 76 stockholders of\nrecord. The actual number of stockholders is greater than this number of stockholders of record and includes stockholders who are beneficial\nowners but whose shares are held in street name by brokers and other nominees. This number of stockholders of record also does not include\nstockholders whose shares may be held in trust by other entities.\n\n \n\nSecurities Authorized for Issuance under Equity\nCompensation Plan\n\n \n\nFor information regarding securities\nauthorized for issuance under equity compensation plans, please refer to Item 12, *Security Ownership of Certain Beneficial Owners\nand Management and Related Stockholder Matters*.\n\n \n\nDividend Policy\n\n \n\nWe have never declared or paid any cash dividends\non our capital stock. We do not anticipate paying any cash dividends in the foreseeable future and we intend to retain all of our earnings,\nif any, to finance our growth and operations and to fund the expansion of our business. Payment of any dividends will be made in the\ndiscretion of our board of directors, after taking into account various factors, including our financial condition, operating results,\ncurrent and anticipated cash needs and plans for expansion. Any dividends that may be declared or paid on our common stock, must also\nbe paid in the same consideration or manner, as the case may be, on our shares of preferred stock, if any.\n\n \n\nRecent Sales of Unregistered Securities\n\n \n\nExcept as disclosed below, during the period covered\nby this Annual Report on Form 10-K, we have not sold any equity securities that were not registered under the Securities Act that were\nnot previously reported in a Quarterly Report on Form 10-Q or in a Current Report on Form 8-K.\n\n \n\n*Director Compensation*\n\n \n\nDuring the years ended March 31, 2026 and 2025, we issued a total of\n2,777 and 2,778 shares of our common stock, respectively, to a non-employee director upon vesting of restricted stock units.\n\n \n\nOn each of March 31, 2024, December 30, 2023, and June 30, 2023 we\nissued a total of 213 shares of our common stock to a total of four of our non-employee directors in accordance with our Outside Director\nCompensation Plan (the “Director Plan”). On September 30, 2023, we issued a total of 208 shares of our common stock to a total\nof four of our non-employee directors in accordance with the Director Plan.\n\n \n\n*Service Providers*\n\n \n\nOn August 26, 2024, we issued 666 shares of our common stock to a service\nprovider. On April 9, 2024 we issued 333 shares of our common stock to a service provider. In August 2023, we issued 47 shares of our\ncommon stock to a service provider. The aforementioned issuances were made pursuant to exemptions from registration pursuant to Section\n4(2) and/or Rule 506 of Regulation D of the Securities Act.\n\n \n\n41"}