Jaeger Steven D 4

What Happened

• Steven D. Jaeger, Chief Information Officer of Quad/Graphics (QUAD), disposed of a total of 18,628 shares in two transactions tied to equity withholding/surrender. On 2026-03-01, 10,423 shares were withheld to satisfy tax liabilities at $6.91 per share ($72,023). On 2026-03-02, 8,205 shares were disposed to the issuer at $6.84 per share ($56,122). Combined proceeds/value of the shares involved are $128,145. These were disposals/withholdings (not open-market purchases).

Key Details

• Transaction dates and prices:
  • 2026-03-01: 10,423 shares withheld for taxes at $6.91 — $72,023 (code F).
  • 2026-03-02: 8,205 shares disposed to issuer at $6.84 — $56,122 (code D).
• Filing date: Form 4 filed 2026-03-03 reporting the Mar 1–2, 2026 events (appears timely).
• Shares owned after transaction: not specified in the information provided in this summary (check the filed Form 4 for post-transaction holdings).
• Footnote: F1 — reflects payment of tax liability by withholding shares incident to the vesting of previously issued restricted stock.
• Transaction codes explained: F = tax withholding (shares withheld to pay taxes); D = disposition to issuer (surrender/back-to-issuer).

Context

• Withholding shares to cover tax on vested restricted stock is a routine administrative action and does not necessarily indicate the insider's market view. Dispositions to the issuer often relate to tax or settlement mechanics rather than open-market selling.
• Purchases are generally a clearer bullish signal; these transactions are disposals/withholdings and are common following equity vesting events.