X0306 4 2015-06-04 0 0000104889 Graham Holdings Co GHC 0001018401 GRAHAM DONALD C/O GRAHAM HOLDINGS COMPANY 1300 NORTH 17TH STREET ARLINGTON VA 22209 1 1 1 0 CEO and COB Class B Common Stock 3087 I Revocable Trust Class B Common Stock 2015-06-04 4 S 0 2084.02 1070.07 D 63705.98 I Trusts for Siblings Class B Common Stock 2015-06-04 4 S 0 1608.69 1071.75 D 62097.28 I Trusts for Siblings Class B Common Stock 2015-06-04 4 S 0 347.61 1072.30 D 61749.68 I Trusts for Siblings Class B Common Stock 2015-06-04 4 S 0 161.68 1073.34 D 61588 I Trusts for Siblings Class B Common Stock 2015-06-05 4 S 0 732.92 1070.27 D 60855.08 I Trusts for Siblings Class B Common Stock 2015-06-05 4 S 0 808.08 1071.86 D 60047 I Trusts for Siblings Class B Common Stock 2015-06-08 4 S 0 3361.08 1070.26 D 56685.92 I Trusts for Siblings Class B Common Stock 2015-06-08 4 S 0 189.11 1071.22 D 56496.81 I Trusts for Siblings Class B Common Stock 2015-06-08 4 S 0 80.81 1072.07 D 56416 I Trusts for Siblings Class B Common Stock 9200 I Trusts for Children Class B Common Stock 2015-06-04 4 S 0 493.98 1070.07 D 5096.02 I Trusts for Children of Siblings Class B Common Stock 2015-06-04 4 S 0 381.31 1071.75 D 4714.72 I Trusts for Children of Siblings Class B Common Stock 2015-06-04 4 S 0 82.39 1072.30 D 4632.32 I Trusts for Children of Siblings Class B Common Stock 2015-06-04 4 S 0 38.32 1073.34 D 4594 I Trusts for Children of Siblings Class B Common Stock 2015-06-05 4 S 0 174.08 1070.27 D 4419.92 I Trusts for Children of Siblings Class B Common Stock 2015-06-05 4 S 0 191.92 1071.86 D 4228 I Trusts for Children of Siblings Class B Common Stock 2015-06-08 4 S 0 797.92 1070.26 D 3430.08 I Trusts for Children of Siblings Class B Common Stock 2015-06-08 4 S 0 44.89 1071.22 D 3385.19 I Trusts for Children of Siblings Class B Common Stock 2015-06-08 4 S 0 19.19 1072.07 D 3366 I Trusts for Children of Siblings Class B Common Stock 5000 I Trust for Third Party Class A Common Stock Class B Common Stock 230048 D Class A Common Stock Class B Common Stock 91354 I Grantor Retained Annuity Trust Class A Common Stock Class B Common Stock 28972 I Trusts for Children Class A Common Stock Class B Common Stock 208555 I Trusts for Siblings Class A Common Stock Class B Common Stock 388225 I Beneficiary of Trusts Class A Common Stock Class B Common Stock 1800 I Trusts for Children of Siblings 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. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,070.00 to $1,070.70, inclusive. The reporting person undertakes to provide to Graham Holdings Company, any security holder of Graham Holdings Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares sold at each separate price within the ranges set forth in footnotes (3) to (11), inclusive to this Form 4. For purposes of calculating the number of shares sold at a specific weighted average price on each day by each trust, the ratio of the number of shares in such trust sold on such date over the total number of shares sold was applied to the total shares sold at the applicable price ranges, yielding the fractional amounts appearing in columns 4 and 5. For the avoidance of doubt, column 5 sets forth the number of whole shares held in each trust as of the last sale taking place on a given day. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,071.11 to $1,072.10, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,072.11 to $1,072.59, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,073.18 to $1,073.50, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,070.00 to $1,070.50, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,071.84 to $1,072.00, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,070.00 to $1,070.96, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,071.00 to $1,071.51, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1,070.00 to $1,070.70, inclusive. /s/ Nicole M. Maddrey for Donald E. Graham 2015-06-08