Transaction Details

Footnotes

Includes 8 shares of Class B Common Stock held by the reporting person in his Graham Holdings Company 401(k) plan account. | Exchange of Class B shares held directly by the reporting person for the equivalent number of Class A shares. | N/A | 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. | Exchange of Class A shares to be held by the spouse of the reporting person for the equivalent number of Class B shares.