Graham Holdings (GHC) director takes fees as 23 Class B shares via trust

Rhea-AI Filing Summary

Graham Holdings Co director Anne M. Mulcahy, through a revocable trust, acquired 23 shares of Class B Common Stock at $1,061.70 per share. These shares were received as part of her fees for board service under a Director Share Purchase Program instead of cash, bringing the trust’s holdings to 737 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MULCAHY ANNE M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class B Common Stock	23	$1,061.70	$24K

Holdings After Transaction: Class B Common Stock — 737 shares (Indirect, Revocable Trust)

Footnotes (1)

1. [object Object]

Key Figures

Shares acquired: 23 shares Price per share: $1,061.70 per share Shares held after: 737 shares

3 metrics

Shares acquired 23 shares Class B Common Stock granted as director fees

Price per share $1,061.70 per share Valuation applied to director fee share election

Shares held after 737 shares Indirect holdings in revocable trust after transaction

Key Terms

Director Share Purchase Program, Revocable Trust, indirect ownership

3 terms

Director Share Purchase Program financial

"election under the Director Share Purchase Program to receive a portion"

Revocable Trust financial

"direct_or_indirect": "I", "nature_of_ownership": "Revocable Trust""

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

indirect ownership financial

""ownership_type": "indirect", "ownership_code": "I""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MULCAHY ANNE M

(Last) (First) (Middle)

C/O GRAHAM HOLDINGS 1812 NORTH MOORE ST.

SUITE 2100

(Street)

ARLINGTON VIRGINIA 22209

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Graham Holdings Co [ GHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class B Common Stock	04/01/2026		A(1)		23	A	$1,061.7	737	I	Revocable Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

Remarks:

	Nicole Maddrey for Anne M. Mulcahy	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Graham Holdings Co (GHC) report for Anne M. Mulcahy?

Graham Holdings Co reported that director Anne M. Mulcahy indirectly acquired 23 Class B Common shares. The shares went to a revocable trust and were received as part of her director fees under a share purchase program instead of taking those fees in cash.

Was the GHC Anne M. Mulcahy Form 4 a market purchase or compensation grant?

The Form 4 reflects a compensation-related share acquisition, not an open-market purchase. Mulcahy elected to receive part of her director fees in Graham Holdings Class B Common Stock, issued to a revocable trust, under the company’s Director Share Purchase Program in lieu of cash.

How many GHC shares did Anne M. Mulcahy’s revocable trust hold after this transaction?

After the transaction, the revocable trust associated with Anne M. Mulcahy held 737 shares of Graham Holdings Class B Common Stock. This figure includes the 23 shares acquired as director fees under the Director Share Purchase Program and represents her indirect ownership position reported in the filing.

What price per share was used for Anne M. Mulcahy’s GHC stock acquisition?

The 23 Class B Common shares were valued at $1,061.70 per share in the Form 4. This price reflects the share value applied to convert a portion of her director fees into stock under the Director Share Purchase Program rather than receiving equivalent cash compensation.

How is Anne M. Mulcahy’s ownership in GHC classified in this Form 4 filing?

Her ownership in this transaction is classified as indirect through a revocable trust. The Form 4 lists the ownership type as “I” with the nature of ownership described as “Revocable Trust,” indicating the trust, rather than Mulcahy personally, holds legal title to the reported shares.