Maximus director sells 742 shares in Form 4

MAXIMUS, INC. director Jan Madsen reported an open-market sale of 742 shares of Common Stock at $72.25 per share.

Rhea-AI Filing Summary

MAXIMUS, INC. director Jan Madsen reported an open-market sale of 742 shares of Common Stock at $72.25 per share. The transaction took place on March 17, 2026 and was made under a Rule 10b5-1 trading plan adopted on September 14, 2024.

Following this sale, Madsen directly holds 20,794.822 shares of MAXIMUS Common Stock. A 10b5-1 trading plan means the sale was pre-scheduled in advance, which typically indicates a routine approach to liquidity rather than a discretionary trade based on recent company developments.

Insider Trade Summary 10b5-1

Net Seller: 742 shares

Net Sell 1 txn

Insider Madsen Jan

Role Director

Sold 742 shs ($54K)

Type	Security	Shares	Price	Value
Sale	Common Stock	742	$72.25	$54K

Holdings After Transaction: Common Stock — 20,794.822 shares (Direct)

Footnotes (1)

1. F1. These sales were completed pursuant to a 10b5-1 trading plan adopted by the reporting person on September 14, 2024.

FAQ

What insider transaction did MAXIMUS (MMS) director Jan Madsen report?

Director Jan Madsen reported selling 742 shares of MAXIMUS Common Stock at $72.25 per share. The trade occurred on March 17, 2026 as an open-market sale, according to the Form 4 insider filing data provided.

How many MAXIMUS (MMS) shares does Jan Madsen hold after the reported sale?

After the reported sale, Jan Madsen directly holds 20,794.822 shares of MAXIMUS Common Stock. This figure comes from the Form 4, which lists total shares following the transaction, giving investors context for the director’s remaining stake.

Was the MAXIMUS (MMS) insider sale made under a Rule 10b5-1 plan?

Yes. The sale was completed under a Rule 10b5-1 trading plan adopted on September 14, 2024. Such plans pre-schedule trades in advance, indicating the timing is pre-arranged rather than based on short-term company news or market movements.

What price did the MAXIMUS (MMS) director receive per share in the Form 4 sale?

The director’s open-market sale was executed at an average price of $72.25 per share. This transaction involved 742 shares of MAXIMUS Common Stock, as disclosed in the Form 4 insider trading report for March 17, 2026.

Does the MAXIMUS (MMS) Form 4 show any option exercises or derivative transactions?

No derivative or option exercises appear in this Form 4. The filing shows only a single non-derivative transaction: an open-market sale of 742 shares, with no derivative positions listed in the derivative summary section of the report.

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Accepted by SEC EDGAR 03/17/2026 - 05:14 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).

X

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^*

Madsen Jan

(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)
03/17/2026

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	03/17/2026		S(1)		742	D	$72.25	20,794.822	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. These sales were completed pursuant to a 10b5-1 trading plan adopted by the reporting person on September 14, 2024.

	/s/ Jason Frank: As Attorney-In-Fact for: Jan Madsen	03/17/2026
	** 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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