Maximus director Michael Warren adds shares via dividend reinvestment

Maximus, Inc. director Michael J. Warren reported small increases in his company stock holdings.

Rhea-AI Filing Summary

Maximus, Inc. director Michael J. Warren reported small increases in his company stock holdings. On 11/28/2025, he acquired 14.403 shares of Maximus common stock at a price of $86.111 per share, marked as a purchase. On 12/01/2025, he received an additional 39.07 shares with a stated price of $0 per share.

After these transactions, Warren beneficially owned 15,524.345 shares of Maximus common stock directly. The filing explains that the first transaction reflects shares purchased through a dividend reinvestment program, while the second represents dividend equivalent rights credited on previously awarded restricted stock units, each equivalent in value to one share of Maximus common stock.

Insider Trade Summary

Net Buyer: 14.403 shares

Net Buy 2 txns

Insider Warren Michael J.

Role Director

Bought 14.403 shs ($1K)

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	39.07	$0.00	$0.00
Purchase	Common Stock	14.403	$86.111	$1K

Holdings After Transaction: Common Stock — 15,524.345 shares (Direct)

Footnotes (2)

1. F1. Shares purchased via dividend reinvestment.
2. F2. 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Maximus (MMS) director Michael J. Warren report in this Form 4?

Director Michael J. Warren reported acquiring additional Maximus common stock in two small transactions, increasing his directly held beneficial ownership to 15,524.345 shares.

How many Maximus (MMS) shares did Michael J. Warren acquire and on what dates?

On 11/28/2025, he acquired 14.403 shares at $86.111 per share. On 12/01/2025, he received 39.07 shares with a stated price of $0 per share.

What is the total number of Maximus (MMS) shares Michael J. Warren owns after these transactions?

Following the reported transactions, Michael J. Warren beneficially owned 15,524.345 shares of Maximus, Inc. common stock in direct ownership form.

How were the 14.403 Maximus (MMS) shares acquired by Michael J. Warren?

The 14.403 shares were purchased via dividend reinvestment, meaning cash dividends were automatically used to buy additional Maximus common stock.

What are the 39.07 Maximus (MMS) shares reported at $0 by Michael J. Warren?

The 39.07 shares are described as dividend equivalent rights on previously awarded restricted stock units. Each right is the economic equivalent of one share of Maximus common stock and vests proportionately with those RSUs.

Is Michael J. Warren an officer or major shareholder of Maximus (MMS)?

He is identified in the filing as a Director of Maximus, Inc. and is not checked as a 10% owner or as an officer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/02/2025 - 08:33 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
Estimated average burden
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^*

Warren Michael J.

(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)
11/28/2025

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	11/28/2025		P		14.403(1)	A	$86.111	15,485.275	D
Common Stock	12/01/2025		A		39.07(2)	A	$0	15,524.345	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. Shares purchased via dividend reinvestment.

2. 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: Michael J Warren	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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.