Buth Douglas P 4

What Happened

• Douglas P. Buth, a director of Quad/Graphics, disposed (code D) of 20,000 shares to the issuer on Feb 23, 2026. The weighted average price reported was $7.02 per share (range $7.00–$7.10), generating approximately $140,426 in proceeds. The Form 4 was filed on Feb 24, 2026.

Key Details

• Transaction date: 2026-02-23; Filing date: 2026-02-24 (no late filing indicated).
• Price: weighted average $7.02; prices ranged $7.00–$7.10 (footnote F1).
• Shares disposed: 20,000; proceeds ≈ $140,426.
• Shares owned after transaction: not fully specified in the provided excerpt. Footnote F2 states holdings include 49,850 shares attributable to deferred stock units and dividend equivalents granted under the Quad/Graphics, Inc. 2020 Omnibus Incentive Plans.
• Transaction code D = Disposition to issuer (shares transferred back to the company). The filing does not state the reason for the disposition.

Context

• A "disposition to issuer" often reflects shares surrendered back to the company (for example, to satisfy tax withholding or to settle awards), but the Form 4 here does not specify the motive. Sales or dispositions are generally less informative about insider sentiment than outright open-market purchases.