Company: GHC
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001193125-25-063218
Chunk: 55

Company: Graham Holdings Co
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 55
---
 Company to link compensation actually paid (as defined by SEC rules) to the Company’s named executive officers for the most recently completed fiscal year to the Company’s performance are: Performance Measures Operating Income before Amortization and Impairments Diluted Earnings Per Share Adjusted Operating Cash Flow (non-GAAPmeasure) Compliance with Laws and Regulations (Kaplan) Analysis of the Information Presented in the Pay versus Performance Table The Company utilizes several performance measures to align executive compensation with performance; not all of which are not presented in the Pay versus Performance table. However, the Company generally seeks to incentivize executives for making decisions that will enhance the long-term value of the Company, and therefore does not specifically align the Company’s performance measures with compensation actually paid for a particular year as computed in accordance with Item 402(v) of Regulation S-K.The Company is providing the following graphic descriptions of the relationships between information presented in the Pay versus Performance table. “Compensation actually paid”, as required under Item 402(v) of Regulation S-K,reflects adjusted values to unvested and vested equity awards during the years shown in the table based on year-endstock prices and various accounting valuation assumptions, but does not necessarily reflect the actual amounts paid out for those awards. “Compensation actually paid” generally fluctuates due to stock price achievement. 30 The graphical presentation below represents the cumulative total shareholder return (TSR) for the Company and custom peer group compared to “compensation actually paid” in accordance with Item 402(v) of Regulation S-K. The graphical presentation below represents the Company’s net income compared to “compensation actually paid” in accordance with Item 402(v) of Regulation S-K. The graphical presentation below represents the Company’s operating income before amortization and impairments compared to “compensation actually paid” in accordance with Item 402(v) of Regulation S-K. 31

PENSION BENEFITS The Pension Benefits Table includes information related to the Company’s funded and tax-qualifieddefined benefit plan, the Retirement Plan, as well as the associated unfunded and non-qualifiedsupplemental executive retirement plan, the SERP. This information reflects the plan provisions in effect as of December 31, 2024. As noted in the Retirement Benefits section above, certain changes were made to the tax-qualifiedRetirement Plan effective as of January 1, 2024. The Retirement Plan covers most employees of the Company and provides benefits that are based on formulas that take into account base salary and qualifying service. These