Form 4: Maximus Director Acquires Shares via Dividend Rights

Maximus Inc. Director Jan Madsen acquired 50.14 shares of common stock through dividend equivalent rights, increasing total beneficial ownership to 18,256.603 shares.

Summary

• Jan Madsen, a Director of MAXIMUS, INC. (MMS), acquired 50.14 shares of common stock.
• The acquisition occurred on December 1, 2025, and was related to dividend equivalent rights.
• These rights accrued on previously-awarded restricted stock units (RSUs) and vest proportionately with the underlying RSUs.
• Each dividend equivalent right is economically equivalent to one share of Maximus common stock.
• The transaction price for these shares was $0.
• Following this transaction, Jan Madsen beneficially owns 18,256.603 shares of Maximus common stock directly.

Sentiment

Score: 5

Explanation: The filing is neutral as it reports a routine, non-material insider transaction related to equity compensation.

Positives

• The acquisition of shares through dividend equivalent rights indicates a routine accrual process tied to existing equity compensation, reflecting ongoing participation in company performance.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the future transaction date for the dividend equivalent rights.

Industry Context

This filing represents a routine insider transaction related to equity compensation for a director, which is a common practice across publicly traded companies in various industries, including government services and consulting where Maximus operates.

Comparison to Industry Standards

• The accrual of dividend equivalent rights on restricted stock units is a standard component of executive and director compensation packages, aligning insider interests with shareholder returns.
• The transaction amount of 50.14 shares is relatively small and typical for routine dividend reinvestment or equivalent rights accruals, not indicative of a significant change in ownership strategy.

Stakeholder Impact

• Shareholders: The transaction is a routine part of director compensation and does not indicate a significant change in company strategy or financial health. It slightly increases director ownership, aligning interests.

Key Dates

Keywords

MAXIMUS INC, MMS, Form 4, Insider Transaction, Director Stock Acquisition, Dividend Equivalent Rights, Restricted Stock Units, Equity Compensation