Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
Form 144

144: Issuer Information

Name of Issuer	Quad/Graphics, Inc.
SEC File Number	001-34806
Address of Issuer	N61 W23044 HARRY'S WAY SUSSEX WISCONSIN 53089-3995
Phone	414-566-6000
Name of Person for Whose Account the Securities are To Be Sold	ANGELSON MARK A
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Record	Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
#1	Class A Common Stock	Oppenheimer & Co. Inc. 85 Broad St. New York NEW YORK 10004	123,246	$409,176.72	39,153,019	06/01/2023	NYSE

144: Securities To Be Sold

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

Record	Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
#1	Class A Common Stock	05/22/2023	DSU Settlement	Quad/Graphics, Inc.	☐	—	110,349	05/22/2023	Equity compensation
#2	Class A Common Stock	12/01/2011	DSU Settlement	Quad/Graphics, Inc.	☐	—	2,318	12/01/2011	Equity compensation
#3	Class A Common Stock	04/01/2017	DSU Settlement	Quad/Graphics, Inc.	☐	—	5,605	04/01/2017	Equity compensation
#4	Class A Common Stock	03/11/2019	DSU Settlement	Quad/Graphics, Inc.	☐	—	4,974	03/11/2019	Equity compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

144: Securities Sold During The Past 3 Months

Nothing to Report

☒

144: Remarks and Signature

Remarks
Date of Notice	05/31/2023
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Alexander N. Pyke, attorney-in-fact for Mark A. Angelson
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)