Company: GHC
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000104889-25-000051
Chunk: 4

Company: Graham Holdings Co
Filing Date: 2025-06-27
Form: 11-K
Chunk 4
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 – DESCRIPTION OF PLAN
The following description of The Kaplan, Inc. Tax Deferred Savings Plan for Salaried Employees (the Plan) provides only general information. Participants should refer to the Plan document and Summary Plan Description (SPD) for a more comprehensive description of the Plan’s provisions. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

#### General
The Plan is a defined contribution plan permitting eligible salaried employees of Kaplan, Inc. and its subsidiaries (collectively, the Company) to participate upon hire. The Company is the Plan Sponsor and a subsidiary of Graham Holdings Company (GHC). The Plan was amended and restated effective January 1, 2024 to incorporate the amendments detailed below.

The Plan is administered by The GHC Savings Plan Committee (the Plan Administrator), whose members are appointed by the Plan Sponsor. Vanguard Fiduciary Trust Company (VFTC) is the Plan’s Trustee and recordkeeper. The Plan entered into a Master Trust Agreement with VFTC to establish the Graham Holdings Company Master Trust (Master Trust) effective January 1, 2021.

During 2024 and 2023, the Plan Administrator adopted amendments to the Plan, which are not expected to affect the Plan’s qualified status under ERISA. Substantially all of these amendments became effective in 2024. The Plan was restated in 2024 and the Summary Plan Description was amended on January 1, 2024 and July 1, 2024, and again in January 1, 2025.

Effective January 1, 2024, the Plan was amended to implement the following changes:

• Substantially all employees in this Plan participate in The Retirement Plan for Graham Holdings Company. Accordingly, these employees are not eligible for Company Matching Contributions for participating employers in the Plan;

• Add Roth and Roth catch-up employee contributions as an option to the Plan, and allow rollover contributions to the Plan in the form of Roth contributions;

• Allow participants to elect an In-Plan Roth conversion in accordance with the Plan’s provisions with respect to all or a portion of the vested amounts in the participant’s accounts other than a Roth Contribution Account or a Roth Rollover Account;

• Permit participants to take out one active loan from the Plan at a time;

• Automatically enroll eligible participants who have not made an affirmative election to participate in the Plan at a default of 4% of base salary on a pre-tax basis.