MAXIMUS INC
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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Dec 31, 2023 · Filed Feb 8, 2024
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8. Equity
- EQUITY
Stock Compensation
We grant restricted stock units ("RSUs") and performance stock units ("PSUs") to eligible participants under our 2021 Omnibus Incentive Plan, which was approved by the Board of Directors and stockholders. The RSUs granted to employees vest ratably over three tofive years andone year for members of the Board of Directors, in each case from the grant date. PSU vesting is subject to the achievement of certain performance and market conditions, and the number of PSUs earned could vary from 0% to 200% of the number of PSUs awarded. The PSUs will vest at the end of athree-year performance period. We issue new shares to satisfy our obligations under these plans. The fair value of each RSU and PSU is calculated at the date of the grant.
During the three months ended December 31, 2023, we issued approximately 302,000 RSUs, which will vest ratably over three tofour years, and approximately 128,000 PSUs, which will vest after three years.
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