Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 105

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 105
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68 72,033 3.9589.52 At December 31, 2024, the intrinsic value for all options outstanding, exercisable and unvested was $31.8 million, $20.3 million and $11.5 million, respectively. The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The market value of the Company’s stock was $871.92 at December 31, 2024. At December 31, 2024, there were 25,754 unvested options related to this plan with an average exercise price of $426.86 and a weighted average remaining contractual term of 5.7 years. At December 31, 2023, there were 38,630 unvested options with an average exercise price of $426.86 and a weighted average remaining contractual term of 6.7 years.As of December 31, 2024, total unrecognized stock-based compensation expense related to stock options was $2.0 million, which is expected to be recognized on a straight-line basis over a weighted average period of approximately 

105

1.7 years. There were 77,258 options exercised during 2024. The total intrinsic value of options exercised during 2024 was $8.0 million; a tax benefit from these option exercises of $2.1 million was realized. There were 3,060 options exercised during 2023. The total intrinsic value of options exercised during 2023 was $0.5 million; a tax benefit from these option exercises of $0.1 million was realized. There were 5,084 options exercised during 2022. The total intrinsic value of options exercised during 2022 was $1.2 million; a tax benefit from these option exercises of $0.3 million was realized.No options were granted during 2024, 2023 or 2022. Other Awards.  In 2022, the Company granted a stock award to an executive officer that is subject to price-based vesting conditions. The stock award provides the executive officer the right to receive 1,000 shares of the Company’s Class B common stock each time the Company’s closing share price exceeds a certain share price target for a 90 consecutive day period; the award period expires on December 31, 2027. The grant date fair value of the stock award totaled $3.5 million, which