Ultra-compact dynamically reconfigurable modulation of optical transmission has been widely studied by using subwavelength-spaced resonant metasurface structures containing reconfigurable optical materials. However, it has been difficult to achieve high transmissivity, large modulation depth, and broad bandwidth simultaneously with the conventional resonance-based metasurface schemes. Here, we propose a reconfigurable phase-transition diffractive grating, made of thick VO2 ridge waveguides, for achieving the above-mentioned three goals simultaneously in the near-infrared range. Based on the large dielectric-to-plasmonic transition characteristic of VO2 in the near-infrared range, diffraction directivity of dual-VO2 ridge waveguide is designed to be tuned by thermally driven phase transition of VO2 for transverse electrically polarized illumination. Then, the diffractive VO2 ridge waveguide grating composed of the periodically arranged dual VO2 ridge waveguides is designed with on-state efficiency around 0.3 and minimum modulation depth about 0.35 over a broad bandwidth of 550 nm (1100-1650 nm). The working principle and excellent modulation performance are thoroughly verified through numerical and experimental studies.