Madsen Jan 4

What Happened

• Jan Madsen, a director of MAXIMUS, Inc. (MMS), was granted 3,215 restricted stock units (RSUs) on March 10, 2026. The grant is recorded at $0.00 per share (a compensation award rather than a purchase), so no cash was exchanged at grant. The filing shows the recipient elected to defer receipt of the underlying common shares until termination of board service.

Key Details

• Transaction date: 2026-03-10; transaction reported on Form 4 filed 2026-03-12.
• Transaction type/code: Award/Grant (A); 3,215 RSUs granted at $0.00 per share (acquisition = $0).
• Shares owned after transaction: Not specified in the public filing.
• Vesting and deferral: Footnote F1 — RSUs vest one year from the grant date; reporting person elected to defer receipt of common stock until leaving the board.
• Dividend equivalents: Footnote F2 — includes 65.219 dividend equivalent rights accrued on previously awarded RSUs that vest proportionately with those RSUs.
• Filing timeliness: Filed within two business days of the transaction (timely).
• Exhibit noted: Exhibit 24 (Power of Attorney).

Context

• RSU grants are a form of compensation for service and do not reflect an open-market purchase or sale; they typically vest over time and convert to shares (or cash) per plan rules. Because Madsen deferred receipt until termination of board service, no common shares were transferred to her immediately. Dividend equivalent rights accrue and will vest in line with the related RSUs.