Form 4: Quad/Graphics Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Donald M. McKenna, EVP and Chief Administrative Officer of Quad/Graphics, Inc., disposed of shares to cover tax liabilities related to vesting restricted stock.
Summary
- On March 1, 2024, Donald M. McKenna, EVP and Chief Administrative Officer of Quad/Graphics, Inc., disposed of 6,925 shares of Class A Common Stock to cover tax obligations.
- The shares were sold at a price of $5.99 per share.
- Following the transaction, McKenna directly owns 146,020 shares of Class A Common Stock.
- McKenna also indirectly owns 503.7095 shares through a 401(a) plan as of February 29, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects a routine transaction to cover tax obligations, with no indication of positive or negative implications for the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a sale of shares to cover tax obligations, which is a common practice.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Date for shares acquired under the Company Savings Plan. |
| 03/01/2024 | Date of the transaction where shares were disposed of to cover tax liability. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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