Eric N. Ashworth - Nov 19, 2021 Form 4 Insider Report for Quad/Graphics, Inc. (QUAD)

Role: Executive Vice President*
Signature: /s/ Sherilyn R. Whitmoyer, attorney-in-fact for Eric N. Ashworth
Stock symbol: QUAD
Transactions as of: Nov 19, 2021
Transactions value $: -$30,478
Form type: 4
Date filed: 11/23/2021, 12:05 PM
Next filing: Jan 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QUAD	Class A Common Stock	Disposed to Issuer	-$30.5K	-7.45K	-4.29%	$4.09	166K	Nov 19, 2021	Direct	F1
holding	QUAD	Class A Common Stock						372	Nov 19, 2021	By 401(a) Plan

* 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 $4.08 to $4.12 per share. The reporting person has provided the issuer, and will provide 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 an average weighted price.

Content

The price in column 4 is a weighted average price. The prices actually received ranged from $4.08 to $4.12 per share. The reporting person has provided the issuer, and will provide 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 an average weighted price.