CONLEY DANIELLE Y. 4

What Happened
Danielle Y. Conley, a director of Graham Holdings Co. (GHC), acquired 19 shares on July 1, 2026. The shares were recorded at $1,161.11 each, for a total value of approximately $22,061. This was an award/acquisition (code A) — shares received in lieu of cash compensation, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-01
• Price per share: $1,161.11; Total value: ~$22,061
• Transaction type/code: Award/Acquisition (A)
• Shares owned after transaction: not specified in this filing
• Footnote: F1 — shares were acquired under the Director Share Purchase Program as stock in lieu of cash fees for director service
• Filing timeliness: Report filed 2026-07-06 for a 2026-07-01 transaction (appears late relative to the typical Form 4 two-business-day rule)

Context
This transaction reflects routine director compensation (electing to receive part of board fees in stock). Such awards are common and do not necessarily indicate a change in the director’s view of the company.