Company: GHC
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000104889-25-000049
Chunk: 4

Company: Graham Holdings Co
Filing Date: 2025-06-27
Form: 11-K
Chunk 4
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 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 employees of Kaplan, Inc. and its subsidiaries and Clyde’s Restaurant Group (Clyde’s) (collectively, the Company) to participate upon hire. The Company is a subsidiary of the Plan Sponsor, Graham Holdings Company (GHC). Eligible employees must affirmatively elect to participate in the Plan. 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:

• Only employees of Clyde’s who are designated as hourly employees and Kaplan, Inc. who are designated as part-time employees and certain collectively bargained union employees are eligible to receive Company Matching Contributions (generally 1% of base salary) if they are not eligible to participate in The Retirement Plan for Graham Holdings Company;

• 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 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;

• Additionally, the Plan has a feature wherein participants can elect to have’s pre-tax deferrals automatically increase at increments of 1%, 2%, or 3% on an annual basis up to the limits established by the Plan. Certain restrictions apply and participants