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Ownership Document
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| Schema Version: X0306 |
| Document Type: 4 |
| Period of Report: 12/31/20 |
| Not Subject to Section 16: 0 |
| Issuer: |
| Issuer CIK: 1074871 |
| Issuer Name: Modular Medical, Inc. |
| Issuer Trading Symbol: MODD |
| Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1506126 |
| | Owner Name: DiPerna Paul |
| Reporting Owner Address: |
| | Owner Street 1: C/O MODULAR MEDICAL, INC. |
| | Owner Street 2: 16772 W BERNARDO DRIVE |
| | Owner City: SAN DIEGO |
| | Owner State: CA |
| | Owner ZIP Code: 92127 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Director? Yes |
| | Is Officer? Yes |
| | Is Ten Percent Owner? Yes |
| | Is Other? No |
| | Officer Title: See Remarks |
| | Other Text: |
| Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock, par value $0.001 per share |
| | Transaction Date: |
| | | Value: 12/31/20 |
| | Deemed Execution Date: |
| | Transaction Coding: |
| | | Transaction Form Type: 5 |
| | | Transaction Code: S |
| | | Equity Swap Involved? Yes |
| | Transaction Timeliness: |
| | | Value: E |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 7,220,400 |
| Footnote ID: F1 |
| | | Transaction Price Per Share: |
| Footnote ID: F2 |
| | | Transaction Acquired-Disposed Code: |
| Value: D |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 7,523,456 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: I |
| | | Nature of Ownership: |
| Value: See Footnote |
| Footnote ID: F2 |
| Footnotes: |
| Footnote - F1: Pursuant to a Stock Transfer, Assignment and Voting Agreement dated December 30,2020 (the "Stock Transfer Agreement"), by and among the Reporting Person, Paul DiPerna Irrevocable Trust, a trust organized under the laws of California (the "Irrevocable Trust"), Paul DiPerna Trust, a trust organized under the laws of California (the "Trust"), Kelsie Nicole DiPerna ("Ms. K. DiPerna"), and Alaria Michele DiPerna ("Ms. A. DiPerna"), the Reporting Person transferred and assigned 7,220,400 shares of Common Stock to the transferees thereunder, but retained all voting rights and shared disposition rights with respect to such Common Stock. |
| Footnote - F2: In accordance with Instruction 4 to this Form, column 7 reflects the transfer and assignment pursuant to the Stock Transfer Agreement from the Reporting Person as follows: 6,000,000 shares of Common Stock to the Irrevocable Trust, in which the Reporting Person is the trustee; 220,400 shares of Common Stock to the Trust, in which the Reporting Person is the trustee; 500,000 shares of Common Stock to Ms. K. DiPerna, the Reporting Person's daughter and 500,000 shares of Common Stock to Ms. A. DiPerna, the Reporting Person's daughter. The transferees paid only nominal amounts for their shares of Common Stock. Prior to the transactions effected pursuant to the Stock Transfer Agreement, the Trust held 303,030 shares of Common Stock. |
| Remarks: Title: Chairman, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer |
| Owner Signature: |
| Signature Name: /s/ Paul DiPerna |
| Signature Date: 1/5/21 |
