X0306 4 2015-04-01 0 0001481792 Quad/Graphics, Inc. QUAD 0001093033 SHIELY JOHN S C/O QUAD/GRAPHICS, INC. N61 W23044 HARRY'S WAY SUSSEX WI 53089 1 0 0 0 Class A Common Stock 2015-04-01 4 A 0 4877 0 A 38702 D Stock Option (Right to Buy) 13.62 2012-05-14 2021-11-18 Class A Common Stock 2500 2500 D Stock Option (Right to Buy) 23.37 2012-05-14 2017-01-31 Class A Common Stock 7500 7500 D Stock Option (Right to Buy) 29.37 2012-05-14 2018-01-31 Class A Common Stock 2500 2500 D Stock Option (Right to Buy) 15.37 2012-05-14 2019-01-31 Class A Common Stock 2500 2500 D Stock Option (Right to Buy) 16.62 2020-01-31 Class A Common Stock 7500 7500 D Includes 4,877 shares attributable to deferred stock units granted under the Quad/Graphics, Inc. 2010 Omnibus Incentive Plan that will be delivered to the reporting person on the earlier of April 1, 2017 or the reporting person's separation from service. Any dividend or other distribution paid with respect to class A common stock underlying the deferred stock units shall accrue and be converted into additional deferred stock units based on the closing price of class A common stock on any such dividend date. Includes 1,166 additional deferred stock units resulting from the payment of dividends on the class A common stock underlying deferred stock units previously granted. Became exercisable as to 5,025 shares on May 14, 2012, and 2,475 shares on November 18, 2012. /s/ Russell E. Ryba, Attorney-In-fact for John S. Shiely 2015-04-03