Form 4: Quad/Graphics Executive Honan Reports Stock Transactions

David J. Honan, Chief Operating Officer of Quad/Graphics, reports the withholding of shares for tax liability and transactions within various trusts.

Summary

• David J. Honan, the Chief Operating Officer of Quad/Graphics, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On March 1, 2024, 29,148 shares of Class A Common Stock were disposed of at a price of $5.99 to cover tax liabilities related to the vesting of restricted stock.
• Honan also reported holdings in Class A Common Stock through several trusts where he serves as trustee: the Danica Quadracci 2008 Trust, the Halle Victoria Quadracci 2003 Trust, and the Meghan Angela Quadracci 2001 Trust, each holding 4,067 shares.
• Additionally, Honan holds 735.4747 shares through the company's 401(a) plan.
• He also indirectly holds derivative securities (convertible Class B Common Stock) through the trusts.
• Following the reported transactions, Honan directly owns 623,279 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the COO's stock transactions, which are typical for executives managing their equity compensation.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
• Executives at companies like R.R. Donnelley and LSC Communications also routinely file similar forms when they trade company stock.
• The details disclosed, such as the number of shares traded and the prices, are consistent with what is expected in these types of filings.

Stakeholder Impact

• The stock disposal to cover tax liabilities may have a minor impact on shareholders due to the slight dilution of shares.
• The transactions within the trusts primarily affect the beneficiaries of those trusts.

Key Dates