SHIELY JOHN S - 21 Feb 2025 Form 4 Insider Report for Quad/Graphics, Inc. (QUAD)

Role: Director
Signature: /s/ Alexander N. Pyke, attorney-in-fact for John S. Shiely
Issuer symbol: QUAD
Transactions as of: 21 Feb 2025
Net transactions value: -$369,613
Form type: 4
Filing time: 25 Feb 2025, 06:18:14 UTC
Previous filing: 24 May 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QUAD	Class A Common Stock	Disposed to Issuer	$369,613	-60,500	-21%	$6.11	227,973	21 Feb 2025	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price in Column 4 is a weighted average price. The prices actually received ranged from $5.97 to $6.57. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
F2	Includes 6,069 additional deferred stock units resulting from the payment of dividends on the class A common stock underlying deferred stock units previously granted.

Content

The price in Column 4 is a weighted average price. The prices actually received ranged from $5.97 to $6.57. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

Includes 6,069 additional deferred stock units resulting from the payment of dividends on the class A common stock underlying deferred stock units previously granted.