Form 4: Quad/Graphics EVP Granted 42,590 Restricted Shares

Quad/Graphics, Inc.'s EVP and Chief Revenue Officer, Julie A. Currie, was granted 42,590 shares of restricted Class A Common Stock.

Summary

• Julie A. Currie, Executive Vice President and Chief Revenue Officer of Quad/Graphics, Inc. (QUAD), acquired 42,590 shares of Class A Common Stock.
• The transaction occurred on January 1, 2026, with an acquisition price of $0 per share.
• These shares are restricted stock, granted under the Quad/Graphics, Inc. 2020 Omnibus Incentive Plan, and are scheduled to vest on March 1, 2029.
• Following this transaction, Currie beneficially owns a total of 188,739 shares of Class A Common Stock.
• The transaction was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 7

Explanation: The grant of restricted stock to a key executive is generally a positive sign for executive retention and alignment with shareholder interests, indicating confidence in future performance. It's a routine compensation event rather than a major strategic announcement.

Positives

• The grant of 42,590 restricted shares to a key executive, Julie A. Currie, aligns her interests with long-term shareholder value.
• The shares are granted under the 2020 Omnibus Incentive Plan, indicating a structured approach to executive compensation and retention.
• The vesting period until March 1, 2029, suggests a long-term commitment from the executive to the company's future performance.

Future Outlook

The grant of restricted stock with a vesting date in March 2029 indicates a long-term incentive structure for a key executive, aligning future performance with shareholder interests and suggesting confidence in the company's sustained growth.

Management Comments

• The 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).

Industry Context

This executive equity grant is a standard practice in publicly traded companies to incentivize and retain key management personnel, linking their compensation to the company's long-term performance and shareholder value creation. It reflects a common approach to executive compensation within the printing and marketing services industry, aiming to foster stability and strategic alignment.

Comparison to Industry Standards

• The grant of restricted stock to a Chief Revenue Officer is a common executive compensation practice, comparable to incentive plans at industry peers like R.R. Donnelley & Sons Co. or LSC Communications, Inc. (prior to its acquisition).
• The $0 acquisition price for restricted stock is typical for equity grants under an incentive plan, designed to reward future performance rather than an immediate cash transaction.
• A vesting period extending to 2029 is consistent with long-term incentive structures aimed at retaining talent and aligning executive interests with multi-year strategic objectives.

Stakeholder Impact

• Shareholders: The grant aligns the interests of a key executive with long-term shareholder value through equity ownership and a multi-year vesting schedule, potentially fostering sustained performance.
• Employees: This transaction highlights the company's executive compensation strategy, which may influence broader employee incentive programs and morale.

Next Steps

• The 42,590 shares of restricted stock granted to Julie A. Currie will vest on March 1, 2029.

Key Dates

Recommendation

This Form 4 reports a routine grant of restricted stock to a key executive as part of an incentive plan. While it indicates executive alignment with long-term company performance, it does not provide new fundamental information to warrant a change in investment recommendation. It's a standard compensation event, not a catalyst for significant stock movement.

Keywords

Quad/Graphics, QUAD, Julie A. Currie, Restricted Stock, Insider Trading, Form 4, Executive Compensation, Equity Grant, 10b5-1 Plan