X0306 4 2017-11-20 0001481792 Quad/Graphics, Inc. QUAD 0001495363 Quadracci J Joel C/O QUAD/GRAPHICS, INC. SUSSEX WI 53089 1 1 Chairman, Pres. & CEO Class A Common Stock 2017-11-20 4 S 0 10908 21.7658 D 102833 I As Trustee - HRQ 2010 Tr Class A Common Stock 2017-11-22 4 S 0 56569 21.8271 D 46264 I As Trustee - HRQ 2010 Tr Class A Common Stock 2017-11-28 4 S 0 24039 21.8775 D 22225 I As Trustee - HRQ 2010 Tr Class A Common Stock 2017-11-29 4 S 0 22225 21.8637 D 0 I As Trustee - HRQ 2010 Tr Class A Common Stock 2019-01-01 4 A 0 338165 0 A 1227717 D Class A Common Stock 4085 I By 401(a) Plan Class B Common Stock Class A Common Stock 233568 233568 D Class B Common Stock Class A Common Stock 2354 2354 I As Trustee - AQH Tr Class B Common Stock Class A Common Stock 2354 2354 I As Trustee - EQH Tr Class B Common Stock Class A Common Stock 5480 5480 I As Trustee - HVF Tr Class B Common Stock Class A Common Stock 120009 120009 I As Trustee - HVQ For Joel Class B Common Stock Class A Common Stock 5480 5480 I As Trustee - IMF Tr Class B Common Stock Class A Common Stock 2354 2354 I As Trustee - KBH Tr Class B Common Stock Class A Common Stock 5480 5480 I As Trustee - KMF Tr Class B Common Stock Class A Common Stock 2354 2354 I As Trustee - WVH Tr Stock Options (Right to Buy) 15.37 2019-01-31 Class A Common Stock 100000 100000 D Stock Options (Right to Buy) 16.62 2020-01-31 Class A Common Stock 150000 150000 D Stock Options (Right to Buy) 41.26 2021-01-01 Class A Common Stock 119643 119643 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 4410 4410 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 6825 6825 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 3938 3938 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 9000 9000 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 5250 5250 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 4250 4250 D Stock Options (Right to Buy) 13.4708 2021-11-18 Class A Common Stock 3675 3675 D Stock Options (Right to Buy) 14.14 2022-01-01 Class A Common Stock 39881 39881 D As Trustee for the H. Richard Quadracci 2010 Trust. The reporting person is a trustee of the trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. Includes 338,165 shares of restricted stock, granted under the Quad/Graphics, Inc. 2010 Omnibus Incentive Plan, that will vest on March 1, 2022. This number reflects distributions from the Plan that were exempt from Section 16 reporting. Class B Common Stock is convertible into Class A Common Stock on a 1-for-1 basis at no cost and has no expiration date. As Trustee for the Alexander Q. Harned 2007 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the Elizabeth Quadracci Harned 2003 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the Harry Virgil Quadracci Flores 2002 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the HVQ 1992 Descendants Trust f/b/o J. Joel Quadracci. The reporting person is a trustee of the trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the Isabella Marion Flores 1999 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the Kathryn B. Harned 2004 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the Kaitlin Mary Flores 2000 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. As Trustee for the William V. Harned 2006 Trust. The reporting person is a trustee of the trust and is a current or future beneficiary thereof. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. All options are fully vested and currently exercisable. /s/ Sherilyn R. Whitmoyer, attorney-in-fact for J. Joel Quadracci 2019-01-03