Sec Form 4 Filing - MANCHESTER MANAGEMENT CO LLC @ Modular Medical, Inc. - 2022-02-15

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person MANCHESTER MANAGEMENT CO LLC 2. Issuer Name and Ticker or Trading Symbol Modular Medical, Inc. [ MODD] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) X __ Other (specify below) Director by Deputization (Last) (First) (Middle) 3 WEST HILL PLACE 3. Date of Earliest Transaction (MM/DD/YY) 02/15/2022 (Street) BOSTON, MA02110 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.001 per share 02/15/2022 M 234,274 A 2,218,077 I see footnote( 2 ) Common Stock, par value $0.001 per share 317,473 I see footnote( 3 ) Common Stock, par value $0.001 per share 124,750 D( 4 ) Common Stock, par value $0.001 per share 60,277 D( 5 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Convertible Promissory Note ( 1 ) 02/15/2022 M 1,000,000 ( 1 ) ( 1 ) Common Stock, par value $0.001 per share; Warrant ( 1 ) ( 1 ) 0 I see footnote( 2 ) Common Stock Purchase Warrant $ 6.6 02/15/2022 M 234,274 02/14/2022 02/14/2027 Common Stock, par value $0.001 per share 234,274 ( 1 ) 234,274 I see footnote( 2 ) Common Stock Purchase Warrant $ 6.6 02/10/2022 02/10/2027 Common Stock, par value $0.001 per share 300,000 300,000 I see footnote( 2 ) Common Stock Purchase Warrant $ 8.61 02/06/2022 02/06/2027 Common Stock, par value $0.001 per share ( 6 ) 119,237 I see footnote( 2 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other MANCHESTER MANAGEMENT CO LLC 3 WEST HILL PLACE BOSTON, MA02110 X Director by Deputization Manchester Explorer, L.P. 2 CALLE CANDINA, #1701 SAN JUAN, PR00907 X FRANK MORGAN C. 2 CALLE CANDINA, #1701 SAN JUAN, PR00907 X X BESSER JAMES E 2 CALLE CANDINA, #1701 SAN JUAN, PR00907 X MANCHESTER MANAGEMENT PR, LLC 2 CALLE CANDINA, #1701 SAN JUAN, PR00907 X Signatures Manchester Explorer, L.P. By: /s/ James E. Besser, Managing Member of the General Partner 02/17/2022 Signature of Reporting Person Date Manchester Management Company, LLC By: /s/ James E. Besser, Managing Member 02/17/2022 Signature of Reporting Person Date Morgan C. Frank By: /s/ Morgan C. Frank 02/17/2022 Signature of Reporting Person Date James E. Besser By: /s/ James E. Besser 02/17/2022 Signature of Reporting Person Date Manchester Management PR, LLC By: /s/ James E. Besser, Managing Member 02/17/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reported securities were obtained due to the conversion of a Convertible Promissory Note (the "Note"). The Note was convertible into an equal amounts of shares of Common Stock, par value $0.001 per share and Common Stock Purchase Warrants at a conversion price equal to the sum of principal and accrued interest multiplied by 1.25. The principal amount of the Note was $1,026,630 and the Note had accrued $97,881 of interest. The total principal and interest was then multiplied by 1.25 resulting in a conversion value of $1,405,639. This translated to 234,274 shares of Common Stock, par value $0.001 per share and 234,274 Common Stock Purchase Warrants based upon a $6.00 purchase price. The foregoing description of the Note does not purport to be complete and is subject to and qualified in its entirety by reference to the Form of Convertible Promissory Note included as Exhibit 10.21 of the Issuer's 8-K filed on May 12, 2021, which is incorporated by reference. ( 2 )The reported securities are owned directly by Manchester Explorer, L.P. ("Explorer") and may be deemed to be indirectly beneficially owned by (i) Manchester Management, the general partner of Explorer, (ii) Manchester Management PR, LLC ("Manchester PR"), the investment adviser to Manchester Management, (iii) James E. Besser, the managing member of Manchester Management and Manchester PR, and (iv) Morgan Frank, who serves as a portfolio manager and as a consultant for Explorer. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. ( 3 )The reported securities are owned directly by JEB Partners, L.P. ("JEB Partners") and may be deemed to be indirectly beneficially owned by (i) Manchester Management, the general partner of JEB Partners, (ii) Manchester PR, the investment adviser to Manchester Management, and (iii) James E. Besser, the managing member of Manchester Management and Manchester PR. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. ( 4 )The reported securities are directly owned by James E. Besser in his personal capacity. ( 5 )The reported securities are directly owned by Morgan C. Frank in his personal capacity. ( 6 )This amount of reported securities has been adjusted from 126,391 to 119,237 to accurately reflect the number of Warrants held by Explorer. The foregoing description of the Warrant does not purport to be complete and is subject to and qualified in its entirety by reference to the Form of Common Stock Purchase Warrant included as Exhibit 10.22 of the Issuer's 8-K filed on May 12, 2021, which is incorporated by reference.

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