Company: GHC
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000104889-25-000053
Chunk: 8

Company: Graham Holdings Co
Filing Date: 2025-06-27
Form: 11-K
Chunk 8
---
 provided by the trustee. See Note 6 for discussion of fair value measurements.

Purchases and sales of investments in the Master Trust are recorded on a trade-date basis. Interest income is accrued when earned. Dividend income is recorded on the ex-dividend date. Capital gain distributions are included in dividend income. The Master Trust’s net appreciation includes the Master Trust’s gains and losses on investments bought and sold as well as held during the year. See Note 5 for the Plan’s interest in the Master Trust, as well as the Master Trust’s investment income.

#### Contributions
Contributions from Plan participants and the Company Matching Contributions, if applicable, are recorded in the year in which the employee’s contributions are withheld from compensation.

#### Payment of Benefits
Benefit payments to participants are recorded upon distribution.

#### Risks and Uncertainties
The Plan provides for various investment securities as investment options. Investment securities are exposed to various risks, such as interest, market, and credit risks. Market risks include global events which could impact the value of investment securities, such as a pandemic, international conflict, trade wars and tariffs. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participant’s account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

#### Recent Accounting Pronouncements
All applicable pronouncements have been adopted by the Plan. There are no issued pronouncements that will require adoption in future periods.

#### Subsequent Events
Management of the Plan has evaluated subsequent events from December 31, 2024 through the date these financial statements were issued. Other than described below, management of the Plan is not aware of any subsequent events that require recognition or additional disclosure in these financial statements.

Effective January 1, 2025, the SPD was revised to reflect updated 2025 regulatory limits, changes to the Plan’s one eligibility year of service affecting highly compensated employees, designating short-term disability pay as eligible compensation in certain situations, and how account balances between $1,000 and $7,000 and greater than $7,000

<div align='center'>7</div>

can be automatically distributed. The Plan now allows certain small account balances of terminated participants to be automatically rolled over into an IRA with a third-party vendor, Portability Services Network ("PSN"). Participants have the option to opt out of this auto-portability service.

NOTE 3 – RELATED-PARTY AND