Form 4: Director Altman Acquires MAXIMUS Shares via Dividends

MAXIMUS Director Anne K. Altman acquired 10.632 shares of common stock through dividend equivalent rights on December 1, 2025.

Summary

• Anne K. Altman, a Director of MAXIMUS, INC. (MMS), reported a change in beneficial ownership.
• On December 1, 2025, Ms. Altman acquired 10.632 shares of MAXIMUS common stock.
• The acquisition was due to dividend equivalent rights accrued on previously awarded restricted stock units (RSUs).
• These dividend equivalent rights vest proportionately with the underlying RSUs.
• Each dividend equivalent right is economically equivalent to one share of MAXIMUS common stock.
• Following this transaction, Ms. Altman beneficially owns 32,066.067 shares of common stock.
• The transaction was executed under a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director through dividend equivalent rights, especially under a 10b5-1 plan, is a routine and generally positive sign of continued insider ownership and participation in the company's equity performance. It's not a direct purchase, but an accrual from existing holdings.

Positives

• Director Anne K. Altman increased her beneficial ownership in MAXIMUS, INC. by 10.632 shares.
• The acquisition of shares through dividend equivalent rights indicates ongoing value creation from previously awarded restricted stock units.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, suggesting a pre-planned and systematic approach to equity management.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance.

Industry Context

This insider transaction report is specific to an individual director's equity holdings and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Increased insider ownership, potentially signaling continued confidence in the company's performance and value accrual from existing equity compensation plans.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of shares by a director through dividend equivalent rights, executed under a pre-arranged 10b5-1 plan. While it indicates continued insider ownership and participation in the company's equity, the transaction size is small and represents an accrual rather than a direct market purchase. It does not provide new fundamental information to alter an investment thesis, thus a 'hold' recommendation is appropriate, maintaining existing positions based on broader company fundamentals.

Keywords

MAXIMUS, MMS, Anne K. Altman, Director, Form 4, Insider Transaction, Beneficial Ownership, Common Stock, Dividend Equivalent Rights, Restricted Stock Units, RSU, 10b5-1 Plan