What is the Director Share Purchase Program mentioned in the GHC filing?

The Director Share Purchase Program allows directors to elect to receive fees in stock rather than cash. In this case, Christopher C. Davis chose stock, leading to an award of 25 Class B shares in lieu of cash fees.

GHC director granted 25 Class B shares

Q: At what price were the Graham Holdings (GHC) shares valued in this Form 4?

The 25 Class B Common Stock shares were valued at $1,061.70 per share. This price reflects the reference value used for the stock-based director fee election rather than an open-market purchase price.

Q: Was the GHC Form 4 transaction an open-market purchase or a compensation grant?

The transaction was a compensation-related grant, not an open-market purchase. Davis elected under the Director Share Purchase Program to receive part of his director fees in stock instead of cash, resulting in the acquisition of 25 shares.

Graham Holdings Co director Christopher C. Davis acquired 25 shares of Class B Common Stock through a stock-based fee program.

Accepted by SEC EDGAR 04/02/2026 - 04:16 PM EDT

Filing Impact

(Neutral)

Filing Sentiment

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Sentiment and the balance of points

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Form Type

Rhea-AI Filing Summary

Graham Holdings Co director Christopher C. Davis acquired 25 shares of Class B Common Stock through a stock-based fee program. The shares were valued at $1,061.70 per share and were received as compensation in stock instead of cash director fees. After this transaction, Davis directly holds 5,591 Class B shares.

Insider Trade Summary

Grant/Award: 25 shares

Grant/Award 1 txn

Insider Davis Christopher C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class B Common Stock	25	$1,061.70	$27K

Holdings After Transaction: Class B Common Stock — 5,591 shares (Direct)

Holdings Before and After: Class B Common Stock, 5,566 to 5,591 shares (Direct)

Footnotes (1)

F1. 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.

Key Figures

Shares acquired: 25 shares Grant value per share: $1,061.70 per share Shares held after: 5,591 shares

3 metrics

Shares acquired 25 shares Class B Common Stock grant on 2026-04-01

Grant value per share $1,061.70 per share Reference value for stock-based director fee

Shares held after 5,591 shares Total direct Class B holdings after grant

Key Terms

Director Share Purchase Program, Class B Common Stock, Grant, award, or other acquisition

3 terms

Class B Common Stock financial

"security_title: "Class B Common Stock""

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did GHC director Christopher C. Davis report?

Christopher C. Davis reported acquiring 25 shares of Graham Holdings Class B Common Stock. The shares were received as a grant under a director fee program that pays part of his board compensation in stock instead of cash.

At what price were the Graham Holdings (GHC) shares valued in this Form 4?

The 25 Class B Common Stock shares were valued at $1,061.70 per share. This price reflects the reference value used for the stock-based director fee election rather than an open-market purchase price.

How many Graham Holdings (GHC) shares does Christopher C. Davis hold after this transaction?

After the reported grant, Christopher C. Davis directly holds 5,591 shares of Graham Holdings Class B Common Stock. This total includes the 25 shares received through the director fee stock election described in the filing.

Was the GHC Form 4 transaction an open-market purchase or a compensation grant?

The transaction was a compensation-related grant, not an open-market purchase. Davis elected under the Director Share Purchase Program to receive part of his director fees in stock instead of cash, resulting in the acquisition of 25 shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Davis Christopher C

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	04/01/2026		A⁽¹⁾		25	A	$1,061.7	5,591	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 Christopher C. Davis	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)

Source: View Original Filing on SEC EDGAR