GHC · Graham Holdings Co

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Disposition of Class B shares in an exchange transaction for the equivalent number of Class A shares.

N/A

The reporting person is a trustee of the trust that owns the reported securities, but he is not a beneficiary of such trust. The reporting person disclaims beneficial ownership of the reported securities.

Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Acquisition of Class A shares in an exchange transaction for the equivalent number of Class B shares.

N/A

Disposition of Class B shares in an exchange transaction for the equivalent number of Class A shares.

N/A

The reporting person's spouse is a trustee of the trust that owns the reported securities. The reporting person is a beneficiary of such trust but has no voting or investment power with respect to the shares held in such trust. The reporting person disclaims beneficial ownership of the reported securities.

Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Acquisition of Class A shares by the spouse of the reporting person in an exchange transaction for the equivalent number of Class B shares.

N/A

Disposition of Class B shares in an exchange transaction for the equivalent number of Class A shares.

N/A

Disposition of Class B shares in an exchange transaction for the equivalent number of Class A shares.

N/A

Includes 11 shares of Class B Common Stock held by the reporting person in his Graham Holdings Company 401(k) plan account.

Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Disposition of 6,000 Class A shares in an exchange transaction for the equivalent number of Class B shares.

N/A

Acquisition of Class B shares in an exchange transaction for the equivalent number of Class A shares.

N/A

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Represents withholding of Class B shares for the tax liability associated with the vesting and settlement of the restricted stock unit award referred to in footnote 1 above.

On January 19, 2022, the reporting person received a restricted stock unit award (Award) with price-based vesting conditions. The terms of the Award provide that 1,000 shares vest if the issuer's Class B Common Stock's closing price meets or exceeds $700 for 90 consecutive calendar days on or before December 31, 2027, with an additional 1,000 shares vesting following each additional incremental increase of $100 in the closing price of the issuer's Class B Common Stock maintained for 90 consecutive days on or before December 31, 2027. On November 5, 2024, the first 1,000 shares vested following achievement of the first stock price goal. On January 27, 2025, the second 1,000 shares vested following achievement of the second stock price goal. On October 20, 2025, the third 1,000 shares vested following achievement of the third stock price goal. On January 16, 2026, the fourth 1,000 shares vested following achievement of the fourth stock price goal.

Represents the fifth tranche of the Award, which will vest if the closing price of the issuer's Class B Common Stock exceeds $1,100 for 90 consecutive calendar days on or before December 31, 2027. As noted above, if such price-based vesting condition is satisfied, the reporting person is eligible for vesting of additional 1,000 share increments of Class B Common Stock for each additional $100 increase in the closing price of the issuer's Class B Common Stock maintained for 90 consecutive days on or before December 31, 2027 (e.g., if the closing price of the issuer's Class B Common Stock exceeds $1,200 for 90 consecutive calendar days, then 1,000 additional shares of Class B Common stock will vest).

N/A

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Receipt of 36,000 shares of Class A Common Stock pursuant to the terms of a trust of which the reporting person is a beneficiary.

N/A

Includes 8 shares of Class B Common Stock held by the reporting person in his Graham Holdings Company 401(k) plan account.

The stock option is fully vested. After this exercise of 7,582 options, the reporting person's spouse has no options remaining under the related grant.

The options exercise was executed in anticipation of the November 12, 2025 expiration date on a net settlement basis.

The stock option is fully vested. After this exercise of 7,582 options, there are no options remaining under the related grant.

The options exercise was executed in anticipation of the November 12, 2025 expiration date on a net settlement basis.

Represents withholding of Class B shares for the tax liability associated with the vesting and settlement of the restricted stock unit award referred to in footnote 1 above.

On January 19, 2022, the reporting person received a restricted stock unit award (Award) with price-based vesting conditions. The terms of the Award provide that 1,000 shares vest if the issuer's Class B Common Stock's closing price meets or exceeds $700 for 90 consecutive calendar days on or before December 31, 2027, with an additional 1,000 shares vesting following each additional incremental increase of $100 in the closing price of the issuer's Class B Common Stock maintained for 90 consecutive days on or before December 31, 2027. On November 5, 2024, the first 1,000 shares vested following achievement of the first stock price goal. On January 27, 2025, the second 1,000 shares vested following achievement of the second stock price goal. On October 20, 2025, the third 1,000 shares vested following achievement of the third stock price goal.

Represents the fourth tranche of the Award, which will vest if the closing price of the issuer's Class B Common Stock exceeds $1,000 for 90 consecutive calendar days on or before December 31, 2027. As noted above, if such price-based vesting condition is satisfied, the reporting person is eligible for vesting of additional 1,000 share increments of Class B Common Stock for each additional $100 increase in the closing price of the issuer's Class B Common Stock maintained for 90 consecutive days on or before December 31, 2027 (e.g., if the closing price of the issuer's Class B Common Stock exceeds $1,100 for 90 consecutive calendar days, then 1,000 additional shares of Class B Common stock will vest).

N/A

Exchange of Class B shares held directly by the reporting person for the equivalent number of Class A shares.

N/A

Exchange of Class B shares held directly by the reporting person for the equivalent number of Class A shares.

N/A

Includes 8 shares of Class B Common Stock held by the reporting person in his Graham Holdings Company 401(k) plan account.

Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Exchange of Class A shares to be held by the spouse of the reporting person for the equivalent number of Class B shares.

N/A

Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Exchange of Class A shares to be held directly by reporting person for the equivalent number of Class B shares.

N/A

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

Securities acquired pursuant to the Director's election under the Director Share Purchase Program to receive a portion of the fees received for service as a director in stock in lieu of cash.

The options exercise was executed in anticipation of the November 12, 2025 expiration date on a net settlement basis.

The stock option is fully vested. After this exercise of 7,580 options, the reporting person has 7,582 vested and exercisable options remaining.

The stock option is fully vested. After this exercise of 7,580 options, the reporting person's spouse has 7,582 vested and exercisable options remaining. The reporting person disclaims beneficial ownership of the reported securities.

The options exercise was executed in anticipation of the November 12, 2025 expiration date on a net settlement basis.

Includes 8 shares of Class B Common Stock held by the reporting person in his Graham Holdings Company 401(k) plan account.

The reporting person has no voting or investment power with respect to such shares. The reporting person disclaims beneficial ownership of the reported securities.

Includes 8 shares of Class B Common Stock held by the reporting person in his Graham Holdings Company 401(k) plan account.