Graham Holdings Co — Director's Dealing 2020

Dec 7, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Graham Holdings Co (GHC)
CIK: 0000104889
Period of Report: 2020-12-03

Reporting Person: Rosen Andrew Stephen (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-03	Class B Common Stock	M	5000	$325.26	Acquired	38336	Direct
2020-12-03	Class B Common Stock	S	4056	$450.30	Disposed	34280	Direct
2020-12-03	Class B Common Stock	S	104	$451.51	Disposed	34176	Direct
2020-12-04	Class B Common Stock	M	3002	$325.26	Acquired	37178	Direct
2020-12-04	Class B Common Stock	S	1685	$466.08	Disposed	35493	Direct
2020-12-04	Class B Common Stock	S	768	$465.03	Disposed	34725	Direct
2020-12-04	Class B Common Stock	S	1	$467	Disposed	34724	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-03	Employee Stock Option (right to buy)	$325.26	M	5000	Disposed	2021-02-22	Class B Common Stock (5000.0)	Direct
2020-12-04	Employee Stock Option (right to buy)	$325.26	M	3002	Disposed	2021-02-22	Class B Common Stock (3002.0)	Direct

Footnotes

F1: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $450.00 to $450.8, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2), (3) and (4) to this Form 4.

F2: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $451.50 to $451.58, inclusive

F3: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $466.00 to $466.91, inclusive

F4: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $465.01 to $465.06, inclusive

F5: Employee Stock Option was granted on 2/22/2011 and vested annually over four years. The option is fully vested.