Form 4: Christopher B. Harned Reports Acquisition of 25,000 Shares of Quad/Graphics, Inc.
SEC Form 4 Filing
Director Christopher B. Harned reports the acquisition of 25,000 shares of Quad/Graphics, Inc. Class A Common Stock, along with adjustments to existing holdings.
Summary
- Christopher B. Harned, a director of Quad/Graphics, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On May 22, 2024, Harned acquired 25,000 shares of Class A Common Stock.
- These shares were attributable to deferred stock units granted under the company's 2020 Omnibus Incentive Plan.
- These shares will be delivered on May 22, 2026, unless deferred or upon separation from service.
- Harned also indirectly owns 50,205 shares as Trustee of Winderful Foundation, Inc. and 265,271 shares by spouse.
- The report also notes adjustments to deferred stock units due to dividend payments.
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a standard regulatory filing detailing stock transactions. The acquisition of shares by a director is generally viewed positively, but it's part of a pre-existing compensation plan.
Positives
- The acquisition of shares by a director could be seen as a positive signal, indicating confidence in the company's future.
Future Outlook
The deferred stock units will be delivered in 2026, unless deferred by the reporting person or upon separation from service.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for corporate insiders in the US, similar to filings required of insiders at companies like RR Donnelley or Cimpress.
- The reporting of deferred stock units is also common, with similar disclosures seen in filings from executives at other publicly traded printing and marketing services companies.
Stakeholder Impact
- The change in ownership may have a minor impact on shareholders' perception of the company.
Key Dates
| Date | Description |
|---|---|
| 05/22/2024 | Date of transaction: Acquisition of 25,000 shares of Class A Common Stock. |
| 05/22/2026 | Date when deferred stock units will be delivered, unless deferred or upon separation from service. |
| 05/24/2024 | Date of signature on the Form 4 filing. |
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