# EDGAR Filing Document

**Accession Number:** 0001621362
**File Stem:** 0001621362-23-000001
**Filing Date:** 2023-3
**Character Count:** 7340
**Document Hash:** 19f54bcd0db66682597ba077bb283aec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001621362-23-000001.hdr.sgml**: 20230308

**ACCESSION NUMBER**: 0001621362-23-000001

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230307

**FILED AS OF DATE**: 20230308

**DATE AS OF CHANGE**: 20230308

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** O'Shaughnessy Timothy J
- **CENTRAL INDEX KEY:** 0001621362

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06714
- **FILM NUMBER:** 23716429

**MAIL ADDRESS:**
- **STREET 1:** C/O GRAHAM HOLDINGS COMPANY
- **STREET 2:** 1300 NORTH 17TH STREET, SUITE 1700
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22209
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Graham Holdings Co
- **CENTRAL INDEX KEY:** 0000104889
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EDUCATIONAL SERVICES [8200]
- **IRS NUMBER:** 530182885
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1300 NORTH 17TH STREET
- **STREET 2:** SUITE 1700
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22209
- **BUSINESS PHONE:** 7033456300

**MAIL ADDRESS:**
- **STREET 1:** 1300 NORTH 17TH STREET
- **STREET 2:** SUITE 1700
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WASHINGTON POST CO
- **DATE OF NAME CHANGE:** 19920703

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>O'Shaughnessy Timothy J<br><sub>(Last) (First) (Middle)</sub><br>C/O GRAHAM HOLDINGS COMPANY<br>1300 NORTH 17TH STREET, SUITE 1700<br><sub>(Street)</sub><br>ARLINGTON, VA 22209<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-07 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Graham Holdings Co [ GHC ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class B Common Stock | 2023-03-07 |  | M |  | 1000 | A | $426.86 | 16795 | D |  |
| Class B Common Stock |  |  |  |  |  |  |  | 4099.025 | I | Spouse |
| Class B Common Stock |  |  |  |  |  |  |  | 5600 | I | Trust for spouse and children<sup>(1)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Option (Right to Buy) | $426.86 | 2023-03-07 |  | M |  | 1000 |  | <sup>(2)</sup> | 2030-09-10 | Class B Common Stock | 1000.0 | $426.86 | 73105<sup>(3)</sup> | D |  |
| Class A Common Stock | <sup>(4)</sup> |  |  |  |  |  |  | <sup>(4)</sup> | <sup>(4)</sup> | Class B Common Stock | 48626.0 |  | 48626 | I | Trust for spouse<sup>(5)</sup> |
| Class A Common Stock | <sup>(4)</sup> |  |  |  |  |  |  | <sup>(4)</sup> | <sup>(4)</sup> | Class B Common Stock | 2700.0 |  | 2700 | I | Spouse |

---

### Footnotes:

(1) The reporting person is a trustee of the trust that owns the reported securities, but he is not a beneficiary of such trust. The reporting person disclaims beneficial ownership of the reported securities.

(2) As previously reported on a Form 4/A filed on March 8, 2021 by the reporting person, the reporting person acquired stock options to purchase 77,258 shares of common stock, with 12,876 vesting on each of September 10, 2021, September 10, 2022, September 10, 2023 and September 10, 2024 and 12,877 vesting on each of September 10, 2025 and September 10, 2026.

(3) After this exercise of 1,000 options, the reporting person has remaining 21,599 vested and exercisable and 51,506 unvested options.

(4) Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

(5) The reporting person is not a beneficiary of such trust. The reporting person disclaims beneficial ownership of the reported securities.

**Signature:** /s/ Nicole Maddrey on behalf of Timothy J. O'Shaughnessy  
**Date:** 2023-03-08

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**