X0306 4 2020-04-28 0001036188 QAD INC QADA_QADB 0001102753 LOPKER PAMELA M 100 INNOVATION PLACE SANTA BARBARA CA 93108 1 1 1 President Class A Common Stock 2020-04-28 4 S 0 2101 44.02 D 4187800 D Class A Common Stock 156206 D Class A Common Stock 634982 I Estate of Karl. F Lopker The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.00 to $44.18, inclusive. The reporting person undertakes to provide to QAD Inc., any security holder of QAD Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4. /s/ Mark Rasmussen, Attorney in Fact for Pamela M. Lopker 2020-04-28