[Form 4] Quad/Graphics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Quad/Graphics, Inc. (QUAD) officer and Chief Marketing Officer Joshua J. Golden reported a sale of company stock in a Form 4 filing. On 11/20/2025, he disposed of 18,390 shares of Class A Common Stock at a weighted average price of $5.32 per share, with actual sale prices ranging from $5.29 to $5.37. Following this transaction, he beneficially owns 114,879 shares directly.

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^*

Golden Joshua J

(Last) (First) (Middle)

C/O QUAD/GRAPHICS, INC.

N61 W23044 HARRY'S WAY

(Street)

SUSSEX WI 53089

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Quad/Graphics, Inc. [ QUAD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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
Class A Common Stock	11/20/2025		D		18,390	D	$5.32(1)	114,879	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. The price in column 4 is a weighted average price. The prices actually received ranged from $5.29 to $5.37 per share. The reporting person has provided the issuer, and will provide to any securityholder 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.

	/s/ Alexander N. Pyke, Attorney-in-Fact for Joshua J. Golden	11/21/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Quad/Graphics (QUAD) disclose in this Form 4?

The Form 4 reports that Chief Marketing Officer Joshua J. Golden sold 18,390 shares of Quad/Graphics Class A Common Stock on 11/20/2025.

At what price were the Quad/Graphics (QUAD) shares sold?

The shares were sold at a weighted average price of $5.32 per share, with actual prices ranging from $5.29 to $5.37 per share.

How many Quad/Graphics (QUAD) shares does the insider own after the transaction?

After the reported sale, Joshua J. Golden beneficially owns 114,879 shares of Quad/Graphics Class A Common Stock in direct ownership.

What is Joshua J. Golden’s role at Quad/Graphics (QUAD)?

Joshua J. Golden is an officer of Quad/Graphics and serves as the company’s Chief Marketing Officer, as indicated in the filing.

Was this Quad/Graphics (QUAD) insider transaction related to derivative securities?

No derivative securities are reported as acquired, disposed of, or beneficially owned in Table II; the filing only details a transaction in Class A Common Stock.

How is the sale price range for the Quad/Graphics (QUAD) shares described?

The filing notes that the reported price is a weighted average and that individual sale prices ranged between $5.29 and $5.37 per share, with full breakdowns available upon request.