Maximus director reports stock units from dividend equivalents

Maximus, Inc. director Anne K. Altman reported an automatic acquisition of common stock linked to previously granted restricted stock units.

Rhea-AI Filing Summary

Maximus, Inc. director Anne K. Altman reported an automatic acquisition of common stock linked to previously granted restricted stock units. On 12/01/2025, she acquired 10.632 shares of Maximus common stock at a price of $0 as dividend equivalent rights, which accrue on existing restricted stock units and vest in step with those awards. Following this transaction, she beneficially owned a total of 32,066.067 shares in direct form. Each dividend equivalent right is described as economically equivalent to one share of Maximus common stock.

Insider Trade Summary

Grant/Award: 10.632 shares

Grant/Award 1 txn

Insider Altman Anne K.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	10.632	$0.00	$0.00

Holdings After Transaction: Common Stock — 32,066.067 shares (Direct)

Footnotes (1)

1. F1. Dividend equivalent rights accrued on previously-awarded restricted stock units ("RSU") which vest proportionately with the RSUs to which they relate. Each dividend equivalent right is the economic equivalent of one share of Maximus common stock.

FAQ

What insider transaction did Maximus (MMS) report for Anne K. Altman?

Maximus reported that director Anne K. Altman acquired 10.632 shares of common stock on 12/01/2025 through dividend equivalent rights tied to previously awarded restricted stock units.

How many Maximus (MMS) shares does Anne K. Altman beneficially own after this transaction?

After the reported transaction, Anne K. Altman beneficially owned 32,066.067 shares of Maximus common stock in direct ownership.

What are dividend equivalent rights in the Maximus (MMS) Form 4 filing?

The filing explains that dividend equivalent rights accrue on previously awarded restricted stock units and vest proportionately with those units. Each right is the economic equivalent of one share of Maximus common stock.

Was cash paid for the Maximus (MMS) shares acquired by Anne K. Altman?

The transaction table shows that the 10.632 shares of Maximus common stock were acquired at a price of $0, reflecting an automatic grant through dividend equivalent rights.

What is Anne K. Altman’s role at Maximus (MMS) according to this filing?

The filing identifies Anne K. Altman as a director of Maximus, Inc., and confirms the Form 4 is filed by one reporting person.

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Accepted by SEC EDGAR 12/02/2025 - 08:31 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Altman Anne K.

(Last) (First) (Middle)

C/O MAXIMUS INC.

1600 TYSONS BLVD, STE 1400

(Street)

MCLEAN VA 22102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MAXIMUS, INC. [ MMS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/01/2025		A		10.632(1)	A	$0	32,066.067	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Dividend equivalent rights accrued on previously-awarded restricted stock units ("RSU") which vest proportionately with the RSUs to which they relate. Each dividend equivalent right is the economic equivalent of one share of Maximus common stock.

	/s/ John T Martinez: As Attorney-In-Fact for: Anne K Altman	12/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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