Analysis of variance (ANOVA) and Tukey post hoc tests indicated a significant difference (p < 0.001*, p = 0.056**) in the relative contribution of the GM during the concentric phases among the partial- (16.9%*), parallel- (28.0%**), and full-depth (35.4%*) squats.
There were no significant differences between the relative contributions of the BF, the VMO, and the VL at different squatting depths during this phase.
This means the weight wasn't transferred anywhere. The weight remained on the muscles throughout the entire range of motion, except for the gluteus maximus which actually increased activity the lower you went...
http://apt.allenpress.com/perlserv/?request=get-abstract&doi=10.1519%2F1533-4287(2002)016[0428%3ATEOBSD]2.0.CO%3B2&ct=1
so there ya go.. going deeper activates the glutes..