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Companies Quad/Graphics

Quad/Graphics (QUAD): executive pay, fiscal 2025

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CEO total pay$7,910,526CEO J. Joel Quadracci · source
Say-on-pay support98.05%Latest vote · source
CEO vs. named peers50th pct.Of 20 peer CEOs

CEO pay, last three years

  • $8,510,486FY2023
  • $8,180,265FY2024
  • $7,910,526FY2025

CEO total pay was $7,910,526 in fiscal 2025, down from $8,180,265 in fiscal 2024.

FY2025: salary $1,163,900 · bonus $0 · stock awards $1,428,687 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Quad/Graphics in fiscal 2025?
As disclosed, J. Joel Quadracci (Chairman and Chief Executive Officer) was the highest-paid executive at Quad/Graphics in fiscal 2025, with total compensation of $7,910,526.
How does Quad/Graphics's chief executive pay compare to its disclosed peer group?
As disclosed, J. Joel Quadracci's total compensation ranked at the 50th percentile of Quad/Graphics's disclosed peer group.
How did shareholders vote on Quad/Graphics's executive compensation?
As disclosed, 98.05% of shareholders supported Quad/Graphics's executive compensation in the latest say-on-pay vote.
How much does Quad/Graphics spend in total on board compensation for fiscal 2025?
As disclosed, Quad/Graphics reported total board compensation of $2,165,901 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
J. Joel Quadracci$1,163,900$0$1,428,687$0$4,723,335$0$594,604$7,910,526
Chairman and Chief Executive Officer
David Honan800,0000500,64801,972,093040,2043,312,945
President and Chief Operating Officer
Anthony Staniak650,0000386,21501,225,849039,5252,301,589
Chief Financial Officer and Treasurer
Kelly Vanderboom600,0000200,2620964,962043,0611,808,285
Executive Vice President and Head of Agency Operations
Dana Gruen565,0000200,2620794,566024,2051,584,033
General Counsel, Corporate Secretary, and Chief Risk & Compliance Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
J. Joel Quadracci$7,910,526$8,180,265$8,510,486↓ −269,739
David Honan3,312,9453,559,1893,004,611↓ −246,244
Anthony Staniak2,301,5892,065,3511,382,359↑ +236,238
Kelly Vanderboom1,808,2851,749,3961,779,631↑ +58,889
Dana Gruen1,584,033———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation philosophy focuses on structuring compensation arrangements in keeping with its business objectives, emphasizing pay for performance and alignment with shareholder interests. A substantial fraction of NEO total compensation is tied to the operating performance of the Company.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policy—
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Kelly VanderboomRSU2025-01-01——28,732—$200,262
Dana GruenRSU2025-01-01——28,732—200,262
David HonanRSU2025-01-01——71,829—500,648
Anthony StaniakRSU2025-01-01——55,411—386,215
J. Joel QuadracciRSU2025-02-12——8,209—55,493
J. Joel QuadracciRSU2025-01-01——197,015—1,373,194

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Kelly Vanderboom$200,262$0$00.0%
Dana Gruen200,262000.0%
David Honan500,648000.0%
Anthony Staniak386,215000.0%
J. Joel Quadracci1,428,687000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Dana GruenRSU103,963—$651,848
Kelly VanderboomRSU119,891—751,717
Anthony StaniakRSU194,360—1,218,637
David HonanRSU337,709—2,117,435
J. Joel QuadracciRSU880,834—5,522,829
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Douglas P. ButhIndependent · Audit (Chair) · Compensation · Finance$142,500$123,222——$10,000$275,722
Jay O. RothmanIndependent · Compensation (Chair)137,500123,222——10,000270,722
Christopher B. HarnedNot independent · Finance (Chair)134,500123,222——10,000267,722
John C. FowlerNot independent · Compensation117,500123,222——20,000260,722
Stephen M. FullerIndependent · Audit117,500123,222——10,000250,722
Kathryn Quadracci FloresNot independent · Finance117,500123,222——10,000250,722
Melanie A. HuetIndependent · Audit117,500123,222——10,000250,722
Beth-Ann EasonIndependent · Compensation117,500123,222——10,000250,722
John S. ShielyNot independent · Departed during FY88,1250——088,125
J. Joel QuadracciEmployee director · Board Chair—————0

Board fee structure and ownership guideline

Annual cash retainer$117,500
Annual equity retainer$117,500
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000
Stock ownership guideline$4

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,090,125
Equity awards (grant-date value)$985,776
All other compensation$90,000
Total cost of the board$2,165,901

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Quad/Graphics as a peer

Companies that benchmark against QUAD

3 companies name QUAD as a compensation peer

The list of companies that name QUAD as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Quad/Graphics names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Omnicom Group2025John Wren$416,667$0$69,280,000$0$69,865,846
2Interpublic Group of Cos.2023Philippe Krakowsky1,500,0006,663,05506,055,60014,441,360
3Ziff Davis2025Vivek Shah1,000,00010,078,0780656,00011,767,948
4Maximus Inc.2025Bruce Caswell976,9236,862,17703,300,00011,210,668
5Steelcase2025Sara Armbruster1,031,2506,254,26602,434,37310,173,889
6Sonoco Products Company2025R. Howard Coker1,248,1566,872,02201,512,72810,142,078
7Clear Channel Outdoor2024Scott Wells1,100,0007,011,44401,560,7409,677,184
8Cimpress NV2026Robert Keane1,000,0007,999,972008,999,972
9The NY Times Company2025Meredith Kopit Levien995,5775,848,37901,822,1188,862,362
10Quad/Graphics2025J. Joel Quadracci1,163,9001,428,68704,723,3357,910,526
11Deluxe Corporation2025Barry McCarthy950,0005,227,46701,289,3407,537,323
12Stagwell2025Mark Penn1,260,0005,563,730007,221,971
13Conduent Inc.2025Clifford Skelton835,0006,001,997006,851,997
14John Wiley & Sons, Inc.2026Matthew Kissner9004,237,90001,273,1006,589,200
15Brady Corporation2026Vineet Nargolwala115,3855,200,0690245,1925,770,770
16Matthews International Corporation2025Joseph Bartolacci1,108,7603,726,5750762,3055,701,016
17Thryv Holdings Inc.2025Joseph Walsh1,060,9003,000,00001,157,4425,259,837
18Acco Brands Corporation2025Thomas Tedford921,8083,425,889—110,7124,488,934
19Pitney Bowes Inc.2025Kurt Wolf24,769100,0073,000,000320,3513,573,306
—Gannett Co., Inc.——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Quad/Graphicsnot disclosedPerformance-based cash 67 · Restricted stock or restricted stock units 33NoFW Cook
Acco Brands Corporationnot disclosedPSU 67 · RSU 33NoMeridian
Brady Corporationnot disclosedRSU 50 · PRSU 50not disclosedPearl Meyer
Cimpress NVnot disclosedPSU 100Nonot disclosed
Clear Channel OutdoorBetween 99% and 129% of individual target opportunities%RSUs 35 · PSUs 25Yes — Relative Total Shareholder Return (TSR) relative to the S&P 600Willis Towers Watson
Conduent Inc.not disclosedPRSU 65 · RSU 35Yes — Relative TSRFrederic W. Cook & Co., Inc.
Deluxe Corporationnot disclosednot disclosedNoFW Cook
Gannett Co., Inc.not disclosednot disclosednot disclosednot disclosed
Interpublic Group of Cos.not disclosedPSU 33 · Performance Cash 33 · RSU 33not disclosedMeridian Compensation Partners, LLC
John Wiley & Sons, Inc.not disclosedPSU 60 · RSU 40not disclosedFW Cook
Matthews International Corporation68%PSU 60 · RSU 40NoPay Governance, LLC
Maximus Inc.220.0%PSU 50 · RSU 50NoFW Cook
Omnicom Group130.8%not disclosednot disclosedFW Cook
Pitney Bowes Inc.not disclosedOption 100 · PSU 60 · RSU 40NoPay Governance
Sonoco Products Companynot disclosedPRSU 60 · RSU 40not disclosedFW Cook
Stagwell0%PSU 79 · RSU 21NoNone
Steelcase192%PSU 60 · RSU 40Yes — rTSRCompensation Advisory Partners (CAP)
The NY Times Company149%PSU 80 · RSU 20YesExequity
Thryv Holdings Inc.100.0%PSU 60 · RSU 40Yes — Relative Total Shareholder Return (rTSR)Lyons Benenson
Ziff Davis52.1%RSU 50 · PSU 50Yes — Relative TSRCompensia

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-20150,061,9932,987,02946,37298.05%Passed
20232023-05-22149,303,6354,243,48641,82597.24%Passed
20202020-05-18151,162,7654,345,179517,88397.21%Passed
20172017-05-15157,013,6959,895,97984,79194.07%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-05-2098.05%a
20232023-05-2297.24%b
20202020-05-1897.21%c

a. Approved under the standard stated in the filing — “Any shares not voted at the Annual Meeting, whether due to abstentions, broker non-votes or otherwise, will not be counted and therefore have no effect on approval of this resolution.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not counted as votes cast and therefore will have no effect on the outcome of the vote.”.

c. Approved under the standard stated in the filing — “2020 Omnibus Incentive Plan "FOR" Majority of Votes Cast Abstentions are counted the same as a vote "against" Broker non-votes are not counted as votes cast and therefore have no effect 3.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)—
CEO total compensation—
Median employee compensation—
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (50 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, J. Joel Quadracci. DEF 14A, filed 2026-04-10. Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 7,910,526. View filing ↗
  • Section 01, David Honan. DEF 14A, filed 2026-04-10. Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 3,312,945. View filing ↗
  • Section 01, Anthony Staniak. DEF 14A, filed 2026-04-10. Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 2,301,589. View filing ↗
  • Section 01, Kelly Vanderboom. DEF 14A, filed 2026-04-10. Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,808,285. View filing ↗
  • Section 01, Dana Gruen. DEF 14A, filed 2026-04-10. Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,584,033. View filing ↗
  • Section 03, Kelly Vanderboom RSU. DEF 14A, filed 2026-04-10. Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Dana Gruen RSU. DEF 14A, filed 2026-04-10. Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, David Honan RSU. DEF 14A, filed 2026-04-10. Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Anthony Staniak RSU. DEF 14A, filed 2026-04-10. Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, J. Joel Quadracci RSU. DEF 14A, filed 2026-04-10. Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, J. Joel Quadracci RSU. DEF 14A, filed 2026-04-10. Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. 10-K, filed 2026-02-18. Section “CEO Pay Ratio”. As printed: —. View filing ↗
  • Section 08, Douglas P. Buth. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 275,722. View filing ↗
  • Section 08, Jay O. Rothman. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 270,722. View filing ↗
  • Section 08, Christopher B. Harned. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 267,722. View filing ↗
  • Section 08, John C. Fowler. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 260,722. View filing ↗
  • Section 08, Stephen M. Fuller. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 250,722. View filing ↗
  • Section 08, Kathryn Quadracci Flores. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 250,722. View filing ↗
  • Section 08, Melanie A. Huet. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 250,722. View filing ↗
  • Section 08, Beth-Ann Eason. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 250,722. View filing ↗
  • Section 08, John S. Shiely. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 88,125. View filing ↗
  • Section 08, J. Joel Quadracci. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-22. Item 5.07 · say-on-pay result. As reported: 98.05% (votes for as printed: 150,061,993). View filing ↗
  • Section 06, 2023 vote. Form 8-K, filed 2023-05-25. Item 5.07 · say-on-pay result. As reported: 97.24% (votes for as printed: 149,303,635). View filing ↗
  • Section 06, 2020 vote. Form 8-K, filed 2020-05-21. Item 5.07 · say-on-pay result. As reported: 97.21% (votes for as printed: 151,162,765). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 1,090,125 + equity 985,776 + all other 90,000 = 2,165,901, summed across the director compensation table rows.
  • Omnicom Group, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Omnicom Group's own proxy. As printed: 69,865,846. View filing ↗
  • Interpublic Group of Cos., Section 10b CEO total. DEF 14A, filed 2024-04-12. CEO total compensation as printed in Interpublic Group of Cos.'s own proxy. As printed: 14,441,360. View filing ↗
  • Ziff Davis, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Ziff Davis's own proxy. As printed: 11,767,948. View filing ↗
  • Maximus Inc., Section 10b CEO total. DEF 14A, filed 2026-01-22. CEO total compensation as printed in Maximus Inc.'s own proxy. As printed: 11,210,668. View filing ↗
  • Steelcase, Section 10b CEO total. DEF 14A, filed 2025-05-28. CEO total compensation as printed in Steelcase's own proxy. As printed: 10,173,889. View filing ↗
  • Sonoco Products Company, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Sonoco Products Company's own proxy. As printed: 10,142,078. View filing ↗
  • Clear Channel Outdoor, Section 10b CEO total. DEF 14A, filed 2025-04-10. CEO total compensation as printed in Clear Channel Outdoor's own proxy. As printed: 9,677,184. View filing ↗
  • Cimpress NV, Section 10b CEO total. DEF 14A, filed 2026-10-27. CEO total compensation as printed in Cimpress NV's own proxy. As printed: 8,999,972. View filing ↗
  • The NY Times Company, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in The NY Times Company's own proxy. As printed: 8,862,362. View filing ↗
  • Quad/Graphics (subject), Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Quad/Graphics's own proxy. As printed: 7,910,526. View filing ↗
  • Deluxe Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-09. CEO total compensation as printed in Deluxe Corporation's own proxy. As printed: 7,537,323. View filing ↗
  • Stagwell, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Stagwell's own proxy. As printed: 7,221,971. View filing ↗
  • Conduent Inc., Section 10b CEO total. DEFR 14A, filed 2026-04-06. CEO total compensation as printed in Conduent Inc.'s own proxy. As printed: 6,851,997. View filing ↗
  • John Wiley & Sons, Inc., Section 10b CEO total. DEF 14A, filed 2026-08-13. CEO total compensation as printed in John Wiley & Sons, Inc.'s own proxy. As printed: 6,589,200. View filing ↗
  • Brady Corporation, Section 10b CEO total. 10-K, filed 2026-09-03. CEO total compensation as printed in Brady Corporation's own proxy. As printed: 5,770,770. View filing ↗
  • Matthews International Corporation, Section 10b CEO total. DEF 14A, filed 2026-01-20. CEO total compensation as printed in Matthews International Corporation's own proxy. As printed: 5,701,016. View filing ↗
  • Thryv Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Thryv Holdings Inc.'s own proxy. As printed: 5,259,837. View filing ↗
  • Acco Brands Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Acco Brands Corporation's own proxy. As printed: 4,488,934. View filing ↗
  • Pitney Bowes Inc., Section 10b CEO total. DEF 14A, filed 2026-03-30. CEO total compensation as printed in Pitney Bowes Inc.'s own proxy. As printed: 3,573,306. View filing ↗
  • Section 10a, Pitney Bowes Inc. reciprocity. DEF 14A. Pitney Bowes Inc. names Quad/Graphics in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Deluxe Corporation reciprocity. DEF 14A. Deluxe Corporation names Quad/Graphics in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Clear Channel Outdoor reciprocity. DEF 14A. Clear Channel Outdoor names Quad/Graphics in its own disclosed peer group (read from its most recent proxy). View filing ↗
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