Quad/Graphics, Inc.
US ˙ NYSE ˙ US7473011093

Introduction

This page provides a comprehensive analysis of the known insider trading history of John C Fowler. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

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Companies with Reported Insider Positions

The SEC filings indicate John C Fowler has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:QUAD / Quad/Graphics, Inc. Director 239,090
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by John C Fowler. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases QUAD / Quad/Graphics, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in QUAD / Quad/Graphics, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

QUAD / Quad/Graphics, Inc. Insider Trades
Insider Sales QUAD / Quad/Graphics, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in QUAD / Quad/Graphics, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2019-08-05 QUAD Fowler John C 7,900 11.1026 7,900 11.1026 87,711 241 2.09 -71,199 -81.18
2019-08-02 QUAD Fowler John C 2,100 11.5300 2,100 11.5300 24,213
2018-08-01 QUAD Fowler John C 10,000 24.0095 10,000 24.0095 240,095
2018-02-23 QUAD Fowler John C 9,700 29.5104 9,700 29.5104 286,251
2018-02-23 QUAD Fowler John C 5,800 29.9833 5,800 29.9833 173,903
2017-11-29 QUAD Fowler John C 22,225 21.8637 22,225 21.8637 485,921
2017-03-02 QUAD Fowler John C 30,564 27.8134 30,564 27.8134 850,089
2016-12-19 QUAD Fowler John C 24,400 26.7500 24,400 26.7500 652,700
2016-12-19 QUAD Fowler John C 73,353 27.0048 73,353 27.0048 1,980,883
2016-12-16 QUAD Fowler John C 600 26.7500 600 26.7500 16,050
2016-12-13 QUAD Fowler John C 15,600 26.2500 15,600 26.2500 409,500
2016-12-13 QUAD Fowler John C 25,000 26.7503 25,000 26.7503 668,758
2016-12-12 QUAD Fowler John C 9,400 26.2524 9,400 26.2524 246,773
2016-12-09 QUAD Fowler John C 25,000 26.1925 25,000 26.1925 654,812
2016-12-09 QUAD Fowler John C 25,000 26.3734 25,000 26.3734 659,335
2016-11-30 QUAD Fowler John C 9,000 28.0993 9,000 28.0993 252,894
2016-11-30 QUAD Fowler John C 9,000 28.2770 9,000 28.2770 254,493
2016-11-30 QUAD Fowler John C 9,000 28.5088 9,000 28.5088 256,579
2016-11-29 QUAD Fowler John C 4,600 27.2553 4,600 27.2553 125,374
2016-11-29 QUAD Fowler John C 6,000 27.5457 6,000 27.5457 165,274
2016-11-29 QUAD Fowler John C 9,000 27.7782 9,000 27.7782 250,004
2016-11-28 QUAD Fowler John C 5,900 27.0093 5,900 27.0093 159,355
2016-11-28 QUAD Fowler John C 1,400 27.2504 1,400 27.2504 38,151
2016-11-25 QUAD Fowler John C 100 27.2600 100 27.2600 2,726
2016-11-23 QUAD Fowler John C 6,000 27.1289 6,000 27.1289 162,773
2016-11-23 QUAD Fowler John C 6,000 27.2532 6,000 27.2532 163,519
2016-11-22 QUAD Fowler John C 15,000 27.0967 15,000 27.0967 406,450
2016-11-22 QUAD Fowler John C 14,834 27.2546 14,834 27.2546 404,295
2016-11-21 QUAD Fowler John C 15,000 26.7577 15,000 26.7577 401,366
2016-11-21 QUAD Fowler John C 15,000 26.7079 15,000 26.7079 400,618
2016-11-18 QUAD Fowler John C 3,000 27.0360 3,000 27.0360 81,108
2016-11-18 QUAD Fowler John C 6,000 26.9158 6,000 26.9158 161,495
2016-11-17 QUAD Fowler John C 15,000 26.7011 15,000 26.7011 400,516
2016-11-17 QUAD Fowler John C 15,000 26.7516 15,000 26.7516 401,274
2016-11-17 QUAD Fowler John C 15,000 27.0019 15,000 27.0019 405,028
2016-11-16 QUAD Fowler John C 8,716 26.5704 8,716 26.5704 231,588
2016-11-16 QUAD Fowler John C 100 26.7500 100 26.7500 2,675
2016-09-02 QUAD Fowler John C 2,753 27.5132 2,753 27.5132 75,744
2016-08-29 QUAD Fowler John C 500 28.0000 500 28.0000 14,000
2016-08-26 QUAD Fowler John C 21,935 28.2128 21,935 28.2128 618,848
2016-08-25 QUAD Fowler John C 25,000 28.0067 25,000 28.0067 700,168
2016-08-24 QUAD Fowler John C 21,712 28.2668 21,712 28.2668 613,729
2016-08-23 QUAD Fowler John C 2,000 28.5001 2,000 28.5001 57,000
2016-08-18 QUAD Fowler John C 4,854 28.7540 4,854 28.7540 139,572
2016-08-17 QUAD Fowler John C 1,446 28.7500 1,446 28.7500 41,572
2016-08-12 QUAD Fowler John C 25,000 29.2676 25,000 29.2676 731,690
2016-08-09 QUAD Fowler John C 21,000 29.0529 21,000 29.0529 610,111
2016-08-08 QUAD Fowler John C 2,400 29.0498 2,400 29.0498 69,720
2016-08-08 QUAD Fowler John C 1,600 29.0074 1,600 29.0074 46,412
2016-08-05 QUAD Fowler John C 40,000 28.9176 40,000 28.9176 1,156,704
2016-08-04 QUAD Fowler John C 60,000 28.8421 60,000 28.8421 1,730,526
2016-03-18 QUAD Fowler John C 2,001 13.7520 2,001 13.7520 27,518
2013-08-15 QUAD Fowler John C 1,721 31.5000 1,721 31.5000 54,212
2013-08-12 QUAD Fowler John C 18,279 32.0371 18,279 32.0371 585,606

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

QUAD / Quad/Graphics, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by John C Fowler as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2025-05-23 2025-05-21 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 22,004 239,090 10.14
2024-05-24 2024-05-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 25,000 210,572 13.47
2023-05-24 2023-05-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 36,605 184,279 24.79
2022-05-25 2022-05-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 23,454 147,674 18.88
2021-01-05 2021-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 27,702 124,220 28.70
2020-08-18 2020-08-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		D - Sale to Issuer -41,500 96,518 -30.07 3.45 -143,254 333,170
2020-01-03 2020-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 25,511 136,184 23.05
2019-08-06 2019-08-05 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -7,900 109,687 -6.72 11.10 -87,711 1,217,811
2019-08-06 2019-08-02 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -2,100 117,587 -1.75 11.53 -24,213 1,355,778
2019-08-06 2019-01-08 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 482 7,087 7.30
2019-08-06 2019-01-08 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 482 7,087 7.30
2019-08-06 2019-01-08 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 481 7,086 7.28
2019-01-04 2019-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 9,058 118,878 8.25
2019-01-04 2017-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -22,225 0 -100.00 21.86 -485,921
2019-01-04 2017-11-28 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -24,039 22,225 -51.96 21.88 -525,913 486,227
2019-01-04 2017-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -56,569 46,264 -55.01 21.83 -1,234,737 1,009,809
2019-01-04 2017-11-20 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -10,908 102,833 -9.59 21.77 -237,421 2,238,243
2018-08-03 2018-08-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -10,000 109,645 -8.36 24.01 -240,095 2,632,522
2018-07-03 2018-07-02 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		F - Taxes -67,285 119,645 -35.99 20.83 -1,401,547 2,492,205
2018-02-27 2018-02-23 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,000 0 -100.00
2018-02-27 2018-02-23 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -6,500 0 -100.00
2018-02-27 2018-02-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -5,800 186,799 -3.01 29.98 -173,903 5,600,850
2018-02-27 2018-02-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -9,700 192,599 -4.79 29.51 -286,251 5,683,674
2018-02-27 2018-02-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 6,500 202,299 3.32 19.12 124,280 3,867,957
2018-02-27 2018-02-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,000 195,799 4.82 16.62 149,580 3,254,179
2018-02-27 2018-02-12 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 1,125 1,125
2018-02-27 2018-02-12 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 1,125 1,125
2018-02-27 2018-02-12 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 1,125 1,125
2018-01-03 2018-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 4,920 186,799 2.71
2018-01-03 2017-11-24 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift -1,291 0 -100.00
2017-11-17 2017-11-15 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		C - Conversion -113,741 0 -100.00
2017-11-17 2017-11-15 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		C - Conversion 113,741 113,741
2017-03-03 2017-03-02 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -30,564 181,879 -14.39 27.81 -850,089 5,058,673
2017-03-03 2017-03-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		F - Taxes -13,296 212,443 -5.89 27.15 -360,986 5,767,827
2017-01-04 2017-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 38,506 225,739 20.57
2016-12-20 2016-12-19 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -73,353 0 -100.00 27.00 -1,980,883
2016-12-20 2016-12-19 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -24,400 73,353 -24.96 26.75 -652,700 1,962,193
2016-12-20 2016-12-16 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -600 97,753 -0.61 26.75 -16,050 2,614,893
2016-12-13 2016-12-13 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -25,000 98,353 -20.27 26.75 -668,758 2,630,972
2016-12-13 2016-12-13 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,600 123,353 -11.23 26.25 -409,500 3,238,016
2016-12-13 2016-12-12 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -9,400 138,953 -6.34 26.25 -246,773 3,647,850
2016-12-13 2016-12-09 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -25,000 148,353 -14.42 26.37 -659,335 3,912,573
2016-12-13 2016-12-09 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -25,000 173,353 -12.60 26.19 -654,812 4,540,548
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,000 9,000 -50.00
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,000 9,000 -50.00
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,000 18,000 -33.33
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -9,000 187,233 -4.59 28.51 -256,579 5,337,788
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,000 200,106 4.71 16.62 149,580 3,325,762
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,000 196,233 4.81 16.62 149,580 3,261,392
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,000 196,233 4.81 16.62 149,580 3,261,392
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -9,000 187,233 -4.59 28.28 -254,493 5,294,388
2016-12-01 2016-11-30 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -9,000 187,233 -4.59 28.10 -252,894 5,261,116
2016-12-01 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		W - Other 2,081 113,741 1.86
2016-12-01 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		W - Other 198,353 198,353
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,000 36,000 -20.00
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -6,000 0 -100.00
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -4,600 6,000 -43.40
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -9,000 187,233 -4.59 27.78 -250,004 5,200,996
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,000 196,233 4.81 16.62 149,580 3,261,392
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -6,000 187,233 -3.11 27.55 -165,274 5,157,464
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 6,000 193,233 3.20 15.37 92,220 2,969,991
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -4,600 187,233 -2.40 27.26 -125,374 5,103,092
2016-11-29 2016-11-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 4,600 191,833 2.46 15.37 70,702 2,948,473
2016-11-29 2016-11-28 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -1,400 10,600 -11.67
2016-11-29 2016-11-28 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -5,900 12,000 -32.96
2016-11-29 2016-11-28 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -1,400 187,233 -0.74 27.25 -38,151 5,102,174
2016-11-29 2016-11-28 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 1,400 188,633 0.75 15.37 21,518 2,899,289
2016-11-29 2016-11-28 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -5,900 187,233 -3.05 27.01 -159,355 5,057,032
2016-11-29 2016-11-28 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 5,900 193,133 3.15 15.37 90,683 2,968,454
2016-11-29 2016-11-25 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -100 17,900 -0.56
2016-11-29 2016-11-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -100 187,233 -0.05 27.26 -2,726 5,103,972
2016-11-29 2016-11-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 100 187,333 0.05 15.37 1,537 2,879,308
2016-11-23 2016-11-23 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -12,000 18,000 -40.00
2016-11-23 2016-11-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -6,000 187,233 -3.11 27.25 -163,519 5,102,698
2016-11-23 2016-11-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -6,000 193,233 -3.01 27.13 -162,773 5,242,199
2016-11-23 2016-11-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 12,000 199,233 6.41 15.37 184,440 3,062,211
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,984 0 -100.00
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -10,000 9,984 -50.04
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -2,500 0 -100.00
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -2,500 0 -100.00
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -4,850 2,500 -65.99
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -14,834 187,233 -7.34 27.25 -404,295 5,102,961
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 4,850 202,067 2.46 13.47 65,333 2,722,004
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,984 197,217 5.33 23.37 233,326 4,608,961
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,000 187,233 -7.42 27.10 -406,450 5,073,396
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 5,000 202,233 2.54 13.47 67,354 2,724,240
2016-11-23 2016-11-22 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 10,000 197,233 5.34 23.37 233,700 4,609,335
2016-11-23 2016-11-21 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -20,000 19,984 -50.02
2016-11-23 2016-11-21 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -10,000 0 -100.00
2016-11-23 2016-11-21 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,000 187,233 -7.42 26.71 -400,618 5,000,600
2016-11-23 2016-11-21 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,000 202,233 -6.91 26.76 -401,366 5,411,290
2016-11-23 2016-11-21 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 10,000 217,233 4.83 13.47 134,708 2,926,302
2016-11-23 2016-11-21 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 20,000 207,233 10.68 23.37 467,400 4,843,035
2016-11-18 2016-11-18 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -9,000 39,984 -18.37
2016-11-18 2016-11-18 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -6,000 187,233 -3.11 26.92 -161,495 5,039,526
2016-11-18 2016-11-18 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -3,000 193,233 -1.53 27.04 -81,108 5,224,247
2016-11-18 2016-11-18 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 9,000 196,233 4.81 23.37 210,330 4,585,965
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -30,000 48,984 -37.98
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -15,000 2,500 -85.71
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,000 187,233 -7.42 27.00 -405,028 5,055,647
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,000 202,233 -6.91 26.75 -401,274 5,410,056
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -15,000 217,233 -6.46 26.70 -400,516 5,800,360
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 30,000 241,049 14.21 23.37 701,100 5,633,315
2016-11-18 2016-11-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 15,000 211,049 7.65 13.47 202,062 2,842,999
2016-11-18 2016-11-16 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -8,816 78,984 -10.04
2016-11-18 2016-11-16 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -100 232,233 -0.04 26.75 -2,675 6,212,233
2016-11-18 2016-11-16 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -8,716 232,333 -3.62 26.57 -231,588 6,173,181
2016-11-18 2016-11-16 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 8,816 196,049 4.71 23.37 206,030 4,581,665
2016-09-07 2016-09-02 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -2,753 87,800 -3.04
2016-09-07 2016-09-02 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -2,753 187,233 -1.45 27.51 -75,744 5,151,379
2016-09-07 2016-09-02 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 2,753 189,986 1.47 23.37 64,338 4,439,973
2016-08-30 2016-08-29 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -500 90,553 -0.55
2016-08-30 2016-08-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -500 187,233 -0.27 28.00 -14,000 5,242,524
2016-08-30 2016-08-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 500 187,733 0.27 23.37 11,685 4,387,320
2016-08-30 2016-08-26 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -21,935 91,053 -19.41
2016-08-30 2016-08-26 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -21,935 187,233 -10.49 28.21 -618,848 5,282,367
2016-08-30 2016-08-26 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 21,935 209,168 11.72 23.37 512,621 4,888,256
2016-08-30 2016-08-08 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -1,600 112,988 -1.40
2016-08-30 2016-08-08 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -1,600 187,233 -0.85 29.01 -46,412 5,431,143
2016-08-30 2016-08-08 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 1,600 188,833 0.85 23.37 37,392 4,413,027
2016-08-25 2016-08-25 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -25,000 114,588 -17.91
2016-08-25 2016-08-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -25,000 187,233 -11.78 28.01 -700,168 5,243,778
2016-08-25 2016-08-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 25,000 212,233 13.35 23.37 584,250 4,959,885
2016-08-25 2016-08-24 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -21,712 139,588 -13.46
2016-08-25 2016-08-24 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -21,712 187,233 -10.39 28.27 -613,729 5,292,478
2016-08-25 2016-08-24 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 21,712 208,945 11.60 23.37 507,409 4,883,045
2016-08-25 2016-08-23 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -2,000 161,300 -1.22
2016-08-25 2016-08-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -2,000 187,233 -1.06 28.50 -57,000 5,336,159
2016-08-25 2016-08-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 2,000 189,233 1.07 23.37 46,740 4,422,375
2016-08-19 2016-08-18 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -4,854 163,300 -2.89
2016-08-19 2016-08-18 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -4,854 187,233 -2.53 28.75 -139,572 5,383,698
2016-08-19 2016-08-18 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 4,854 192,087 2.59 23.37 113,438 4,489,073
2016-08-19 2016-08-17 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -1,446 168,154 -0.85
2016-08-19 2016-08-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -1,446 187,233 -0.77 28.75 -41,572 5,382,949
2016-08-19 2016-08-17 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 1,446 188,679 0.77 23.37 33,793 4,409,428
2016-08-16 2016-08-12 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -25,000 169,600 -12.85
2016-08-16 2016-08-12 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -25,000 187,233 -11.78 29.27 -731,690 5,479,861
2016-08-16 2016-08-12 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 25,000 212,233 13.35 23.37 584,250 4,959,885
2016-08-11 2016-08-09 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -21,000 194,600 -9.74
2016-08-11 2016-08-09 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -21,000 187,233 -10.08 29.05 -610,111 5,439,662
2016-08-11 2016-08-09 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 21,000 208,233 11.22 23.37 490,770 4,866,405
2016-08-08 2016-08-08 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -2,400 215,600 -1.10
2016-08-08 2016-08-08 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -2,400 187,233 -1.27 29.05 -69,720 5,439,081
2016-08-08 2016-08-08 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 2,400 189,633 1.28 23.37 56,088 4,431,723
2016-08-08 2016-08-05 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -40,000 218,000 -15.50
2016-08-08 2016-08-05 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -40,000 187,233 -17.60 28.92 -1,156,704 5,414,329
2016-08-08 2016-08-05 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 40,000 227,233 21.36 23.37 934,800 5,310,435
2016-08-08 2016-08-04 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -60,000 258,000 -18.87
2016-08-08 2016-08-04 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -60,000 187,233 -24.27 28.84 -1,730,526 5,400,193
2016-08-08 2016-08-04 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 60,000 247,233 32.05 23.37 1,402,200 5,777,835
2016-06-09 2016-06-07 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -20,000 0 -100.00
2016-06-09 2016-06-07 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -20,000 187,233 -9.65 20.00 -400,000 3,744,660
2016-06-09 2016-06-07 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 20,000 207,233 10.68 14.14 282,800 2,930,275
2016-06-01 2016-05-27 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -7,499 20,000 -27.27
2016-06-01 2016-05-27 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -7,499 187,233 -3.85 19.00 -142,505 3,558,026
2016-06-01 2016-05-27 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 7,499 194,732 4.01 14.14 106,036 2,753,510
2016-05-26 2016-05-25 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		M - Exercise -6,719 27,499 -19.64
2016-05-26 2016-05-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,719 187,233 -3.46 19.00 -127,665 3,557,539
2016-05-26 2016-05-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		M - Exercise 6,719 193,952 3.59 14.14 95,007 2,742,481
2016-05-24 2016-05-20 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -8,000 1,291 -86.10 18.00 -144,000 23,238
2016-05-17 2016-05-13 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -1,100 9,291 -10.59 18.00 -19,803 167,263
2016-05-13 2016-05-12 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -900 10,391 -7.97 18.00 -16,204 187,084
2016-05-13 2016-05-11 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -10,000 11,291 -46.97 18.03 -180,252 203,523
2016-05-13 2016-05-11 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		I - Other -11,488 0 -100.00 15.05 -172,950
2016-05-10 2016-05-10 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -20,000 21,291 -48.44 17.04 -340,806 362,805
2016-05-10 2016-05-06 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -19,000 41,291 -31.51 16.06 -305,115 663,080
2016-05-06 2016-05-04 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -1,000 60,291 -1.63 16.00 -16,000 964,656
2016-05-06 2016-05-04 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -8,403 61,291 -12.06 15.02 -126,238 920,775
2016-05-06 2016-05-04 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -16,597 187,233 -8.14 15.07 -250,035 2,820,684
2016-05-06 2016-05-04 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -10,000 203,830 -4.68 14.12 -141,158 2,877,224
2016-04-28 2016-04-27 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -5,800 213,830 -2.64 13.07 -75,798 2,794,459
2016-04-28 2016-04-26 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -2,200 219,630 -0.99 13.00 -28,606 2,855,739
2016-03-22 2016-03-18 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -2,001 221,830 -0.89 13.75 -27,518 3,050,606
2016-03-22 2016-03-07 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift 21,739 69,694 45.33
2016-03-22 2016-03-07 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift -21,739 223,831 -8.85
2016-03-03 2016-03-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		F - Taxes -11,374 278,683 -3.92 12.66 -143,995 3,528,127
2016-01-05 2016-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 100,000 290,057 52.62
2016-01-05 2015-03-05 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift -17,206 0 -100.00
2016-01-05 2015-03-05 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift -5,823 0 -100.00
2016-01-05 2014-06-27 4 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift -34,408 17,206 -66.66
2016-01-05 2014-06-27 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift -9,648 5,823 -62.36
2015-04-16 2015-04-06 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift 14,816 14,816
2015-04-16 2015-04-06 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift -14,816 190,057 -7.23
2015-04-03 2015-04-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 43,347 204,873 26.84
2015-03-03 2015-03-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		F - Taxes -7,723 161,526 -4.56 23.43 -180,950 3,784,554
2014-04-02 2014-03-31 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 43,860 169,249 34.98
2014-02-14 2013-12-09 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 126,473 126,473
2014-02-14 2013-12-09 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 126,504 126,504
2014-02-14 2013-12-09 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 126,488 126,488
2014-02-14 2013-12-09 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 119,837 119,837
2014-02-14 2013-12-06 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 111,660 111,660
2014-01-10 2014-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		F - Taxes -2,070 125,389 -1.62 27.23 -56,366 3,414,342
2013-08-16 2013-08-15 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -1,721 127,459 -1.33 31.50 -54,212 4,014,958
2013-08-14 2013-08-12 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale -18,279 129,180 -12.40 32.04 -585,606 4,138,553
2013-07-10 2013-07-08 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -5,774 147,459 -3.77 25.00 -144,350 3,686,475
2013-06-14 2013-06-12 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -476 153,233 -0.31 25.00 -11,900 3,830,825
2013-03-27 2013-03-25 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 153,709 -3.91 24.50 -153,125 3,765,870
2013-03-19 2013-03-15 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 159,959 -3.76 24.00 -150,000 3,839,016
2013-03-12 2013-03-11 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 166,209 -3.62 23.50 -146,875 3,905,912
2013-03-12 2013-03-08 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 172,459 -3.50 23.00 -143,750 3,966,557
2013-03-08 2013-03-07 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 178,709 -3.38 22.50 -140,625 4,020,952
2013-01-25 2013-01-23 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 184,959 -3.27 22.00 -137,500 4,069,098
2013-01-16 2013-01-15 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -6,250 191,209 -3.17 21.50 -134,375 4,110,994
2013-01-16 2013-01-14 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -5,525 197,459 -2.72 21.00 -116,025 4,146,639
2013-01-09 2013-01-07 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		S - Sale X -25,725 202,984 -11.25 20.88 -537,035 4,237,494
2013-01-03 2013-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 33,113 228,709 16.93
2012-08-30 2012-08-29 4 QUAD Quad/Graphics, Inc.
Class C Common Stock 		C - Conversion -3,385 0 -100.00
2012-08-30 2012-08-29 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		C - Conversion 3,385 22,976 17.28
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 45,000 45,000
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 30,000 30,000
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 30,000 30,000
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 318,000 318,000
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 10,000 10,000
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 17,500 17,500
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 6,500 6,500
2012-05-16 2012-05-14 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 7,350 7,350
2012-02-14 2011-08-17 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 145,959 800,000 22.32
2012-02-14 2011-08-05 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift 311,699 654,041 91.05
2012-02-14 2011-08-01 5 QUAD Quad/Graphics, Inc.
Class B Common Stock 		G - Gift -103,900 0 -100.00
2012-02-14 2011-08-01 5 QUAD Quad/Graphics, Inc.
Class A Common Stock 		G - Gift -96,256 0 -100.00
2012-01-04 2012-01-01 4 QUAD Quad/Graphics, Inc.
Stock Options (Right to Buy) 		A - Award 34,218 34,218
2012-01-04 2012-01-01 4 QUAD Quad/Graphics, Inc.
Class A Common Stock 		A - Award 22,539 195,596 13.02
2010-07-01 3 QUAD Quad/Graphics, Inc.
Class A Common Stock 		167,668
2010-07-01 3 QUAD Quad/Graphics, Inc.
Class A Common Stock 		96,256
2010-07-01 3 QUAD Quad/Graphics, Inc.
Class A Common Stock 		18,263
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)