Yes. Quad’s Board of Directors has authorized a share repurchase program of up to $100 million of the Company’s outstanding Class A Common Stock. Under the authorization, share repurchases may be made at the Company’s discretion, from time to time, in the open market and/or in privately negotiated transactions, as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchase will depend on economic and market conditions, share price, trading volume, applicable legal requirements and other factors.
