Form 4: MAXIMUS CEO Bruce Caswell Reports Acquisition of Dividend Equivalent Rights

Bruce Caswell, CEO and President of MAXIMUS, INC., reports the acquisition of dividend equivalent rights related to previously awarded restricted stock units and performance share units.

Summary

• On February 29, 2024, Bruce Caswell, CEO and President of MAXIMUS, INC. [MMS], reported the acquisition of 611.637 dividend equivalent rights.
• These rights are associated with previously awarded restricted stock units (RSUs) and performance share units (PSUs).
• The dividend equivalent rights vest proportionately with the RSUs to which they relate and on certain PSUs where performance criteria have been met.
• Each dividend equivalent right is economically equivalent to one share of Maximus Common stock.
• Following the transaction, Caswell beneficially owns 171,176.723 derivative securities.
• A Power of Attorney was executed on December 12, 2023, granting John T. Martinez, David Mutryn, Theresa Golinvaux and Catherine Scavello the authority to act on Caswell's behalf for SEC filings related to Section 16(a) of the Securities Exchange Act of 1934.

Sentiment

Score: 7

Explanation: The document is a standard SEC filing related to executive compensation. It is neutral in tone and reflects routine corporate governance practices. The acquisition of dividend equivalent rights is a positive sign of alignment between management and shareholders, but it's not a major event that would significantly impact sentiment.

Positives

• The acquisition of dividend equivalent rights reflects continued alignment of the CEO's interests with those of the shareholders.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It provides transparency regarding the CEO's stake in the company's performance.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) and performance share units (PSUs) to align executive incentives with shareholder value.
• Dividend equivalent rights are a common feature of equity-based compensation, providing executives with the same dividend benefits as common shareholders.
• Companies like Accenture, Cognizant, and Booz Allen Hamilton also utilize similar equity compensation structures for their executives.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding executive compensation and ownership.

Key Dates