By: (AP) The estate of Katharine Graham, the late chairman of The Washington Post Co., sold 420,000 shares of publicly traded Class B stock to pay taxes following her death in July, according to regulatory documents filed Wednesday.
Donald Graham, her son and the chief executive of the company, is one of three executors of her estate as well as a beneficiary.
The estate sold the Class B shares on Sept. 21, according to a filing with the Securities and Exchange Commission. At the same time, the estate also transferred 203,790 shares of Class A stock, which is not publicly traded, to six trusts, including one for which Donald Graham is a beneficiary.
Following those and other stock transactions, Donald Graham beneficially owns 3,531,359 shares of the company's stock, or 37.2% of the total outstanding. He previously had 39.8%.
In addition to
The Washington Post newspaper, the company also owns
Newsweek magazine, educational services provider Kaplan Inc., the cable television services provider Cable One, and six network-affiliated television stations.
The Washington Post's Class B shares were off $11.30 at $505 in afternoon trading on the New York Stock Exchange.
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