Form 4: MAXIMUS Director Haley Acquires Dividend Equivalent Rights

MAXIMUS Director John J. Haley reported the acquisition of 102.761 dividend equivalent rights tied to previously awarded restricted stock units.

Summary

• Director John J. Haley acquired 102.761 shares of MAXIMUS, INC. common stock.
• The acquisition is scheduled for August 31, 2025, at a price of $0 per share.
• These shares represent dividend equivalent rights accrued on previously awarded restricted stock units (RSUs).
• The dividend equivalent rights vest proportionately with the underlying RSUs.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this transaction, Mr. Haley will directly own 39,867.345 shares and indirectly own 71,132 shares through the John J. Haley Grantor Retained Annuity Trust Seven and 32,764 shares through the John J. Haley Grantor Retained Annuity Trust Six.

Sentiment

Score: 7

Explanation: The filing indicates a routine increase in a director's beneficial ownership through dividend equivalent rights, which is a positive sign of continued alignment with shareholder interests, though not a direct open-market purchase. The transaction is pre-scheduled under a Rule 10b5-1 plan.

Positives

• Director John J. Haley's beneficial ownership of MAXIMUS, INC. common stock increased by 102.761 shares.
• The acquisition of dividend equivalent rights indicates ongoing benefits from previously awarded restricted stock units, aligning director interests with shareholder value.

Future Outlook

The filing reports a future transaction date of August 31, 2025, for the acquisition of dividend equivalent rights, indicating a pre-scheduled transaction likely under a Rule 10b5-1 plan.

Industry Context

This Form 4 filing details an insider transaction, which is a routine disclosure for corporate directors and officers. It reflects a director's ongoing equity participation in the company, a common practice across industries to align management and shareholder interests, often facilitated by pre-arranged plans like Rule 10b5-1.

Related Party Transactions

• John J. Haley Grantor Retained Annuity Trust Seven and John J. Haley Grantor Retained Annuity Trust Six are related parties through which Mr. Haley indirectly holds shares.

Stakeholder Impact

• Shareholders: The increase in director beneficial ownership, even through routine compensation, can be viewed positively as it aligns management interests with shareholder value.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of dividend equivalent rights by a director, not an open-market purchase or sale. While it indicates continued equity alignment, it does not provide new fundamental information to warrant a change in investment recommendation.

Keywords

MAXIMUS, MMS, Form 4, insider transaction, director, stock acquisition, dividend equivalent rights, restricted stock units, Rule 10b5-1