Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 103

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 103
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. This authorization includes shares that remained under the previous authorization. The Company did not announce a ceiling price or time limit for the purchases. At December 31, 2024, the Company had remaining authorization from the Board of Directors to purchase up to 466,460 shares of Class B common stock.Stock Awards.  In 2012, the Company adopted an incentive compensation plan (the 2012 Plan), which, among other provisions, authorizes the awarding of Class B common stock to key employees in the form of stock awards, stock options and other awards involving the issuance of shares. Stock awards made under the 2012 Plan are primarily subject to the general restriction that stock awarded to a participant will be forfeited and revert to Company ownership if the participant’s employment terminates before the end of a specified period of service to the Company. At December 31, 2024, there were 112,556 shares reserved for issuance under the 2012 Plan, which were all subject to stock awards and stock options outstanding. In 2022, the Company adopted a new incentive compensation plan (the 2022 Plan), which, among other provisions, authorizes the awarding of Class B common stock to key employees and non-employee Directors in the form of stock awards, stock options and other awards involving the issuance of shares. All stock awards, stock options and other awards involving the issuance of shares issued subsequent to the adoption of this plan are covered under this 

104

new incentive compensation plan. Stock awards made under the 2022 Plan are primarily subject to the general restriction that stock awarded to a participant will be forfeited and revert to Company ownership if the participant’s employment terminates before the end of a specified period of service to the Company. The number of Class B common shares authorized for issuance under the 2022 Plan is 500,000 shares. At December 31, 2024, there were 498,310 shares reserved for issuance under the 2022 Plan. Of this number, 15,545 shares were subject to stock awards and 482,765 shares were available for future awards.Activity related to stock awards under these incentive compensation plans for the year ended December 31, 2024 was as follows: Number of SharesAverage Grant-Date Fair ValueBeginning of year, unvested29,649 $571.11 Awarded1,088 715.43 Vested(386)623.03 Forfeited(1,037)584.01 End