Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-22

Quad/Graphics (QUAD)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$7,910,526
J. Joel Quadracci total, FY2025
46th
CEO pay percentile vs peers
CEO-to-median pay ratio
98.05%
Say-on-pay support, latest vote
Companies that benchmark against QUAD
3 companies name QUAD as a compensation peer

Each company listed discloses QUAD in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named QUAD in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

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 FY20242025
J. Joel Quadracci$7,910,526
David Honan3,312,945
Anthony Staniak2,301,589
Kelly Vanderboom1,808,285
Dana Gruen1,584,033

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

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Kelly VanderboomRSU28,732$200,262
Anthony StaniakRSU55,411386,215
Dana GruenRSU28,732200,262
David HonanRSU71,829500,648
J. Joel QuadracciRSU197,0151,373,194
03b

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%
Anthony Staniak386,215000.0%
Dana Gruen200,262000.0%
David Honan500,648000.0%
J. Joel Quadracci1,373,194000.0%

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

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
J. Joel QuadracciRSU880,834$5,522,829
David HonanRSU337,7092,117,435
Dana GruenRSU103,963651,848
Kelly VanderboomRSU119,891751,717
Anthony StaniakRSU194,3601,218,637
05

Incentive-plan design — the Compensation Discussion & Analysis

To attract, retain and motivate top talent capable of leading in an evolving marketing and media environment and advancing Quad s growth as a global marketing experience company. To encourage executives to think like an owner. Through our compensation programs, we seek to align the interests, perspectives and decision-making of our executive officers with the interests of our shareholders, which have been primarily long-term value creation balanced against risk. To drive long-term share value by providing at risk compensation that is contingent on the achievement of corporate objectives that encourage individual behaviors that will contribute to our overall corporate performance.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

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.

07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Douglas P. ButhIndependent · Audit (Chair) · Compensation · Finance$142,500$123,222$0$0$10,000$275,722
Jay O. RothmanIndependent · Compensation (Chair)137,500123,2220010,000270,722
Christopher B. HarnedNot independent · Finance (Chair)134,500123,2220010,000267,722
John C. FowlerIndependent · Compensation117,500123,2220020,000260,722
Kathryn Quadracci FloresNot independent · Finance117,500123,2220010,000250,722
Melanie A. HuetIndependent · Audit117,500123,2220010,000250,722
Beth-Ann EasonIndependent · Compensation117,500123,2220010,000250,722
Stephen M. FullerIndependent · Audit117,500123,2220010,000250,722
John S. ShielyNot standing for re-election · Departed during FY88,1250088,125
J. Joel QuadracciEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$235,000
Annual equity retainer$123,222
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000
Stock ownership guideline
09b

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.

10

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.

10a

Peer reciprocity

Of the companies Quad/Graphics names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Quad/Graphics.

10b

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
5Cimpress N.V.2025Robert Keane1,000,0009,838,9930010,849,447
6Steelcase2025Sara Armbruster1,031,2506,254,26602,434,37310,173,889
7Sonoco Products Company2025R. Howard Coker1,248,1566,872,02201,512,72810,142,078
8Clear Channel Outdoor2024Scott Wells1,100,0007,011,44401,560,7409,677,184
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
11Brady Corporation2025R.R Shaller996,0584,990,20801,373,4147,597,366
12Deluxe Corporation2025Barry McCarthy950,0005,227,46701,289,3407,537,323
13Stagwell2025Mark Penn1,260,0005,563,730007,221,971
14Conduent Inc.2025Clifford Skelton835,0006,001,997006,851,997
15Matthews International Corporation2025Joseph Bartolacci1,108,7603,726,5750762,3055,701,016
16Thryv Holdings Inc.2025Joseph Walsh1,060,9003,000,00001,157,4425,259,837
17ACCO Brands Corporation2025Thomas Tedford921,8083,425,8890110,7124,488,934
18Pitney Bowes Inc.2025Kurt Wolf24,769100,0073,000,000320,3513,573,306
John Wiley & Sons, Inc.not in coverage universe
Advantage Solutionsnot 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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Quad/Graphicsnot disclosedCash LTI 67 · RSU 33NoFW Cook
ACCO Brands Corporation10%PSU 67 · RSU 33NoMeridian Compensation Partners, LLC
Advantage Solutionsnot disclosednot disclosednot disclosednot disclosed
Brady Corporationnot disclosednot disclosednot disclosednot disclosed
Cimpress N.V.not disclosedPSU 100Nonot disclosed
Clear Channel Outdoor129%PSU 65 · RSU 35NoWillis Towers Watson
Conduent Inc.not disclosedPSU 65 · RSU 35Yes — Relative TSRFrederic W. Cook & Co., Inc.
Deluxe Corporation113.1%PSU 50 · RSU 50NoFW Cook
Interpublic Group of Cos.56%PSU 33 · Cash LTI 33 · RSU 33NoMeridian Compensation Partners, LLC
John Wiley & Sons, Inc.not disclosednot disclosednot disclosednot disclosed
Matthews International Corporation68%PSU 60 · RSU 40NoPay Governance, LLC
Maximus Inc.220.0%PSU 100NoFW Cook
Omnicom Group130.8%Options 100not disclosedFW Cook
Pitney Bowes Inc.not disclosedOption 100 · PSU 60 · RSU 40not disclosedPay Governance
Sonoco Products Company97.0%PSU 60 · RSU 40NoFW 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 & Company Inc.
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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, J. Joel QuadracciDEF 14A2026-04-100001481792-26-000082Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 7,910,526. Filing ↗machine: r2 · c48 · span 367851–367860
2Section 01, David HonanDEF 14A2026-04-100001481792-26-000082Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 3,312,945. Filing ↗machine: r8 · c48 · span 382352–382361
3Section 01, Anthony StaniakDEF 14A2026-04-100001481792-26-000082Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 2,301,589. Filing ↗machine: r5 · c48 · span 375164–375173
4Section 01, Kelly VanderboomDEF 14A2026-04-100001481792-26-000082Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,808,285. Filing ↗machine: r11 · c48 · span 389645–389654
5Section 01, Dana GruenDEF 14A2026-04-100001481792-26-000082Section “2025 SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,584,033. Filing ↗machine: r14 · c48 · span 396953–396962
6Section 03, Kelly Vanderboom RSUDEF 14A2026-04-100001481792-26-000082Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r16 · c15 · span 461839–461845
7Section 03, Anthony Staniak RSUDEF 14A2026-04-100001481792-26-000082Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r8 · c15 · span 441130–441136
8Section 03, Dana Gruen RSUDEF 14A2026-04-100001481792-26-000082Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r20 · c18 · span 472591–472598
9Section 03, David Honan RSUDEF 14A2026-04-100001481792-26-000082Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r12 · c15 · span 451480–451486
10Section 03, J. Joel Quadracci RSUDEF 14A2026-04-100001481792-26-000082Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r3 · c18 · span 428466–428475
11Section 07, pay ratio10-K2026-02-180001481792-26-000042Section “CEO Pay Ratio”. As printed: —. Filing ↗
12Section 08, Douglas P. ButhDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 275,722. Filing ↗machine: t25 · r4 · c13 · span 755974–755981
13Section 08, Jay O. RothmanDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 270,722. Filing ↗machine: t25 · r11 · c13 · span 769609–769616
14Section 08, Christopher B. HarnedDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 267,722. Filing ↗machine: t25 · r9 · c13 · span 765786–765793
15Section 08, John C. FowlerDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 260,722. Filing ↗machine: t25 · r7 · c13 · span 761954–761961
16Section 08, Kathryn Quadracci FloresDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 250,722. Filing ↗machine: t25 · r6 · c13 · span 760043–760050
17Section 08, Melanie A. HuetDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 250,722. Filing ↗machine: t25 · r10 · c13 · span 767698–767705
18Section 08, Beth-Ann EasonDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 250,722. Filing ↗machine: t25 · r5 · c13 · span 757914–757921
19Section 08, Stephen M. FullerDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 250,722. Filing ↗machine: t25 · r8 · c13 · span 763868–763875
20Section 08, John S. ShielyDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 88,125. Filing ↗machine: t25 · r12 · c2 · span 770459–770465
21Section 08, J. Joel QuadracciDEF 14A2026-04-100001481792-26-000082Section “Director Compensation”. As printed: 0. Filing ↗
22Section 06, 2026 voteForm 8-K2026-05-220001481792-26-000123Item 5.07 · say-on-pay result. As reported: 98.05% (votes for as printed: 150,061,993). Filing ↗
23Section 06, 2023 voteForm 8-K2023-05-250001481792-23-000032Item 5.07 · say-on-pay result. As reported: 97.24% (votes for as printed: 149,303,635). Filing ↗
24Section 06, 2020 voteForm 8-K2020-05-210001481792-20-000030Item 5.07 · say-on-pay result. As reported: 97.21% (votes for as printed: 151,162,765). Filing ↗machine: span 106902–122184
25Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
26Section 09b board cost (computed)ComputedcomputedCash 1,090,125 + equity 985,776 + all other 90,000 = 2,165,901, summed across the director compensation table rows.machine: formula: Σ = 2,165,901
27Omnicom Group, Section 10b CEO totalDEF 14A2026-03-260001213900-26-034811CEO total compensation as printed in Omnicom Group's own proxy. As printed: 69,865,846. Filing ↗machine: r7 · c20 · span 1800102–1800112
28Interpublic Group of Cos., Section 10b CEO totalDEF 14A2024-04-120001193125-24-094907CEO total compensation as printed in Interpublic Group of Cos.'s own proxy. As printed: 14,441,360. Filing ↗machine: t213 · r2 · c35 · span 881467–881477
29Ziff Davis, Section 10b CEO totalDEF 14A2026-03-260001084048-26-000016CEO total compensation as printed in Ziff Davis's own proxy. As printed: 11,767,948. Filing ↗machine: r2 · c24 · span 634468–634478
30Maximus Inc., Section 10b CEO totalDEF 14A2026-01-220001032220-26-000007CEO total compensation as printed in Maximus Inc.'s own proxy. As printed: 11,210,668. Filing ↗machine: r3 · c24 · span 739406–739416
31Cimpress N.V., Section 10b CEO totalDEF 14A2025-10-280001262976-25-000107CEO total compensation as printed in Cimpress N.V.'s own proxy. As printed: 10,849,447. Filing ↗machine: t11 · r2 · c18 · span 242841–242851
32Steelcase, Section 10b CEO totalDEF 14A2025-05-280001050825-25-000082CEO total compensation as printed in Steelcase's own proxy. As printed: 10,173,889. Filing ↗machine: span 673033–673043
33Sonoco Products Company, Section 10b CEO totalDEF 14A2026-03-130001104659-26-027659CEO total compensation as printed in Sonoco Products Company's own proxy. As printed: 10,142,078. Filing ↗machine: t76 · r2 · c48 · span 1281982–1281992
34Clear Channel Outdoor, Section 10b CEO totalDEF 14A2025-04-100001193125-25-077985CEO total compensation as printed in Clear Channel Outdoor's own proxy. As printed: 9,677,184. Filing ↗machine: r4 · c34 · span 759946–759955
35The NY Times Company, Section 10b CEO totalDEF 14A2026-03-130000071691-26-000016CEO total compensation as printed in The NY Times Company's own proxy. As printed: 8,862,362. Filing ↗machine: t66 · r6 · c16 · span 862166–862175
36Quad/Graphics (subject), Section 10b CEO totalDEF 14A2026-04-100001481792-26-000082CEO total compensation as printed in Quad/Graphics's own proxy. As printed: 7,910,526. Filing ↗machine: r2 · c48 · span 367851–367860
37Brady Corporation, Section 10b CEO total10-K2025-09-040000746598-25-000045CEO total compensation as printed in Brady Corporation's own proxy. As printed: 7,597,366. Filing ↗machine: t77 · r2 · c29 · span 2020162–2020171
38Deluxe Corporation, Section 10b CEO totalDEF 14A2026-04-030000027996-26-000085CEO total compensation as printed in Deluxe Corporation's own proxy. As printed: 7,537,323. Filing ↗machine: r2 · c27 · span 320308–320317
39Stagwell, Section 10b CEO totalDEF 14A2026-04-280001104659-26-050360CEO total compensation as printed in Stagwell's own proxy. As printed: 7,221,971. Filing ↗machine: r1 · c41 · span 348255–348264
40Conduent Inc., Section 10b CEO totalDEF 14A2026-04-030001677703-26-000043CEO total compensation as printed in Conduent Inc.'s own proxy. As printed: 6,851,997. Filing ↗machine: r2 · c21 · span 634926–634935
41Matthews International Corporation, Section 10b CEO totalDEF 14A2026-01-200001193125-26-015869CEO total compensation as printed in Matthews International Corporation's own proxy. As printed: 5,701,016. Filing ↗machine: span 999498–999507
42Thryv Holdings Inc., Section 10b CEO totalDEF 14A2026-04-300001556739-26-000029CEO total compensation as printed in Thryv Holdings Inc.'s own proxy. As printed: 5,259,837. Filing ↗machine: r4 · c36 · span 694066–694075
43ACCO Brands Corporation, Section 10b CEO totalDEF 14A2026-03-270001193125-26-129331CEO total compensation as printed in ACCO Brands Corporation's own proxy. As printed: 4,488,934. Filing ↗machine: t65 · r3 · c9 · span 943650–943659
44Pitney Bowes Inc., Section 10b CEO totalDEF 14A2026-03-300001140361-26-011982CEO total compensation as printed in Pitney Bowes Inc.'s own proxy. As printed: 3,573,306. Filing ↗machine: r2 · c27 · span 1097324–1097333
45Section 10a, Sonoco Products Company reciprocityDEF 14A0001104659-26-027659Sonoco Products Company's most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
46Section 10a, Omnicom Group reciprocityDEF 14A0001213900-26-034811Omnicom Group's most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
47Section 10a, Pitney Bowes Inc. reciprocityDEF 14A0001140361-26-011982Pitney Bowes Inc. names Quad/Graphics in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Maximus Inc. reciprocityDEF 14A0001032220-26-000007Maximus Inc.'s most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
49Section 10a, Cimpress N.V. reciprocityDEF 14A0001262976-25-000107Cimpress N.V.'s most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
50Section 10a, Interpublic Group of Cos. reciprocityDEF 14A0001193125-24-094907Interpublic Group of Cos.'s most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
51Section 10a, Clear Channel Outdoor reciprocityDEF 14A0001193125-25-077985Clear Channel Outdoor names Quad/Graphics in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, Ziff Davis reciprocityDEF 14A0001084048-26-000016Ziff Davis's most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
53Section 10a, Thryv Holdings Inc. reciprocityDEF 14A0001556739-26-000029Thryv Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
54Section 10a, Conduent Inc. reciprocityDEF 14A0001677703-26-000043Conduent Inc.'s most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
55Section 10a, Stagwell reciprocityDEF 14A0001104659-25-039437Stagwell's most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗
56Section 10a, Deluxe Corporation reciprocityDEF 14A0000027996-26-000085Deluxe Corporation names Quad/Graphics in its own disclosed peer group (read from its most recent proxy). Filing ↗
57Section 10a, Matthews International Corporation reciprocityDEF 14A0001193125-26-015869Matthews International Corporation's most recent proxy was read; its disclosed peer group does not include Quad/Graphics. Filing ↗