MAXIMUS (MMS) CFO reports PSU share release and tax share surrender

Rhea-AI Filing Summary

MAXIMUS, Inc. insider equity award activity is reported for the company’s Chief Financial Officer. On December 2, 2025, the officer acquired 13,391.387 shares of common stock at $0 per share following the release of previously granted performance stock units. This amount includes 414.003 shares from dividend equivalent rights tied to those units.

On the same date, the officer surrendered 6,039.515 shares of common stock at a price of $86.51 per share to cover withholding taxes related to the award. After these transactions, the officer directly owned 39,036.754 shares of MAXIMUS common stock.

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

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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^*

Mutryn David

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/02/2025

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	12/02/2025		A		13,391.387(1)	A	$0	45,076.269	D
Common Stock	12/02/2025		F		6,039.515(2)	D	$86.51	39,036.754	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 shares were received upon the release of performance stock units ("PSUs") granted on November 25, 2022. The reported amount includes 414.003 shares representing the dividend equivalent rights accrued on the PSUs.

2. These shares were surrendered to satisfy the withholding tax due in connection with the release of the PSUs.

	/s/ John T Martinez: As Attorney-In-Fact for: David Mutryn	12/03/2025
	** 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).
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FAQ

What insider transaction did MAXIMUS (MMS) disclose for its CFO?

MAXIMUS reported that its Chief Financial Officer acquired 13,391.387 shares of common stock upon the release of performance stock units on December 2, 2025, and surrendered 6,039.515 shares to cover related tax withholding.

How many MAXIMUS (MMS) shares does the CFO own after this Form 4 filing?

Following the reported transactions, the Chief Financial Officer directly owned 39,036.754 shares of MAXIMUS common stock.

What is the source of the 13,391.387 MAXIMUS (MMS) shares reported as acquired?

The 13,391.387 shares were received upon the release of performance stock units (PSUs) granted on November 25, 2022, including 414.003 shares from dividend equivalent rights accrued on those PSUs.

Why were 6,039.515 MAXIMUS (MMS) shares surrendered by the CFO?

The 6,039.515 shares of common stock were surrendered to satisfy the withholding tax due in connection with the release of the performance stock units.

At what prices were the MAXIMUS (MMS) insider transactions reported?

The PSU-related acquisition of 13,391.387 shares was reported at $0 per share, while the surrender of 6,039.515 shares to cover taxes was reported at a price of $86.51 per share.

What role does the reporting person hold at MAXIMUS (MMS)?

The reporting person is an officer of MAXIMUS, serving as the company’s Chief Financial Officer.