Form 4: Quad/Graphics Exec Sells Shares for Tax, Acquires Via Plan

Donald M. McKenna, EVP and Chief Administrative Officer of Quad/Graphics, Inc., reported a sale of shares for tax purposes and an acquisition through a 401(a) plan.

Summary

• Donald M. McKenna, Executive Vice President and Chief Administrative Officer of Quad/Graphics, Inc., reported transactions involving the company's Class A Common Stock.
• On March 1, 2026, McKenna disposed of 20,122 shares of Class A Common Stock at a price of $6.91 per share.
• This disposition was made to cover tax liabilities associated with the vesting of previously issued restricted stock.
• McKenna also indirectly acquired 548.599 shares of Class A Common Stock through the Company Savings Plan, with this information furnished by the Plan Administrator as of February 28, 2026.
• Following these transactions, McKenna directly beneficially owns 175,068 shares and indirectly owns 548.599 shares through the 401(a) Plan.
• The disposition transaction was executed pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, reflecting routine executive compensation and tax planning activities rather than a significant change in company fundamentals or executive sentiment.

Positives

• The acquisition of 548.599 shares through the Company Savings Plan demonstrates continued executive participation in the company's equity.

Negatives

• The disposition of 20,122 shares, while for tax purposes, represents a reduction in direct beneficial ownership by a key executive.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as those for tax withholding upon restricted stock vesting, are common across industries and typically do not signal a change in an executive's long-term view of the company, especially when executed under a Rule 10b5-1 plan.

Related Party Transactions

• The reported transactions involve an executive (Donald M. McKenna) and the company's securities, which are inherently related-party dealings in the context of insider reporting.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine, pre-scheduled transactions for tax purposes and plan participation, not indicative of a change in company value or executive confidence.

Key Dates

Recommendation

The filing details routine insider transactions (tax-related sale and plan acquisition) by an executive, executed under a Rule 10b5-1 plan. These transactions are not indicative of a change in the company's fundamental outlook or the executive's long-term confidence, thus warranting no change to an existing 'hold' recommendation based solely on this filing.

Keywords

Quad/Graphics, QUAD, Form 4, Insider Trading, Stock Sale, Restricted Stock, Tax Liability, 401(a) Plan, Donald M. McKenna, Executive Compensation