<SEC-DOCUMENT>0001481792-23-000057.txt : 20231121
<SEC-HEADER>0001481792-23-000057.hdr.sgml : 20231121
<ACCEPTANCE-DATETIME>20231121062417
ACCESSION NUMBER:		0001481792-23-000057
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231121
DATE AS OF CHANGE:		20231121

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Quad/Graphics, Inc.
		CENTRAL INDEX KEY:			0001481792
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL PRINTING [2750]
		IRS NUMBER:				391152983
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	001-34806
		FILM NUMBER:		231424454

	BUSINESS ADDRESS:	
		STREET 1:		N61 W23044 HARRY'S WAY
		CITY:			SUSSEX
		STATE:			WI
		ZIP:			53089-3995
		BUSINESS PHONE:		414-566-6000

	MAIL ADDRESS:	
		STREET 1:		N61 W23044 HARRY'S WAY
		CITY:			SUSSEX
		STATE:			WI
		ZIP:			53089-3995

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Buth Douglas P
		CENTRAL INDEX KEY:			0001495364

	FILING VALUES:
		FORM TYPE:		144

	MAIL ADDRESS:	
		STREET 1:		QUAD/GRAPHICS, INC.
		STREET 2:		N61 W23044 HARRY'S WAY
		CITY:			SUSSEX
		STATE:			WI
		ZIP:			53089
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001495364</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
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  <formData>
    <issuerInfo>
      <issuerCik>0001481792</issuerCik>
      <issuerName>Quad/Graphics, Inc.</issuerName>
      <secFileNumber>001-34806</secFileNumber>
      <issuerAddress>
        <com:street1>N61 W23044 HARRY'S WAY</com:street1>
        <com:city>SUSSEX</com:city>
        <com:stateOrCountry>WI</com:stateOrCountry>
        <com:zipCode>53089-3995</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>414-566-6000</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Buth Douglas P</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Robert W. Baird &amp; Co.</name>
        <address>
          <com:street1>777 East Wisconsin Avenue</com:street1>
          <com:city>Milwaukee</com:city>
          <com:stateOrCountry>WI</com:stateOrCountry>
          <com:zipCode>53202</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>49836</noOfUnitsSold>
      <aggregateMarketValue>251173.44</aggregateMarketValue>
      <noOfUnitsOutstanding>37751509</noOfUnitsOutstanding>
      <approxSaleDate>11/21/2023</approxSaleDate>
      <securitiesExchangeName>NYSE</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <acquiredDate>01/01/2013</acquiredDate>
      <natureOfAcquisitionTransaction>DSU Settlement</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Quad/Graphics, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>2751</amountOfSecuritiesAcquired>
      <paymentDate>01/01/2013</paymentDate>
      <natureOfPayment>Equity compensation</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <acquiredDate>03/31/2021</acquiredDate>
      <natureOfAcquisitionTransaction>DSU Settlement</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Quad/Graphics, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>6930</amountOfSecuritiesAcquired>
      <paymentDate>03/31/2021</paymentDate>
      <natureOfPayment>Equity compensation</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <acquiredDate>04/01/2022</acquiredDate>
      <natureOfAcquisitionTransaction>DSU Settlement</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Quad/Graphics, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>7307</amountOfSecuritiesAcquired>
      <paymentDate>04/01/2022</paymentDate>
      <natureOfPayment>Equity compensation</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <acquiredDate>01/01/2021</acquiredDate>
      <natureOfAcquisitionTransaction>DSU Settlement</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Quad/Graphics, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>10663</amountOfSecuritiesAcquired>
      <paymentDate>01/01/2021</paymentDate>
      <natureOfPayment>Equity compensation</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <acquiredDate>01/01/2022</acquiredDate>
      <natureOfAcquisitionTransaction>DSU Settlement</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Quad/Graphics, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>22185</amountOfSecuritiesAcquired>
      <paymentDate>01/01/2022</paymentDate>
      <natureOfPayment>Equity compensation</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Buth, Douglas P.</name>
        <address>
          <com:street1>c/o Quad/Graphics, Inc.</com:street1>
          <com:street2>N61 W23044 Harry's Way</com:street2>
          <com:city>Sussex</com:city>
          <com:stateOrCountry>WI</com:stateOrCountry>
          <com:zipCode>53089</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <saleDate>08/22/2023</saleDate>
      <amountOfSecuritiesSold>970</amountOfSecuritiesSold>
      <grossProceeds>5577.50</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Buth, Douglas P.</name>
        <address>
          <com:street1>c/o Quad/Graphics, Inc.</com:street1>
          <com:street2>N61 W23044 Harry's Way</com:street2>
          <com:city>Sussex</com:city>
          <com:stateOrCountry>WI</com:stateOrCountry>
          <com:zipCode>53089</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <saleDate>11/20/2023</saleDate>
      <amountOfSecuritiesSold>20000</amountOfSecuritiesSold>
      <grossProceeds>100000.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>11/21/2023</noticeDate>
      <signature>/s/ Alexander N. Pyke, attorney-in-fact for Douglas P. Buth</signature>
    </noticeSignature>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
