Modular Medical Incentivizes FDA Milestones with Stock Options

Modular Medical (MODD) has provided an announcement.

Modular Medical, Inc. introduced a Bonus Program to motivate its employees with stock options as rewards for achieving FDA clearance milestones for their insulin pump product, MODD-1. The initial set of options vested upon completing preliminary testing but were canceled when the company missed the FDA clearance deadline. Subsequently, new stock options with a different exercise price were granted to executive officers and employees, contingent upon receiving FDA clearance by the end of the year, failing which the options will expire.

For an in-depth examination of MODD stock, go to TipRanks’ Stock Analysis page.