The BSD license family (including the Modified BSD License), on the other hand, doesn’t compel you to do any of the above. Both the newer BSD Licenses as well as the Apache 2.0 License are permissive in nature, allowing easy redistribution.
The newer versions of the original BSD licenses, i.e., the 3-clause and the 2-clause variants are compatible with GPL. It requires you to disclose your source code and make the modified version open source as well.
But be sure to check the compliance terms of the licenses of the code that you’re looking to merge with.
Like if you have licensed your component under the original BSD license, it won’t be compatible with code licensed under the GNU GPL.
The BSD License lets you freely modify and distribute your software’s code in the source or binary format as long as you retain a copy of the copyright notice, list of conditions, and the disclaimer.
The original BSD License or the 4-clause BSD License also contains an advertising clause and a non-endorsement clause (detailed explanation about these clauses are offered in the following questions).