WINMARK CORP — Director's Dealing 2010

Dec 14, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2010-12-14

Reporting Person: Zola Steven C (President, Winmark Capital)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-14	Employee Stock Option (right to buy)	$32.92	A	9250	Acquired	2020-12-14	Common Stock (9250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Direct
Common Stock	9641	Indirect
Common Stock	500	Indirect
Common Stock	500	Indirect
Common Stock	500	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$25.99	2015-01-13	Common Stock (1000)	1000	Direct
Employee Stock Option (right to buy)	$20.46	2015-12-13	Common Stock (20000)	20000	Direct
Employee Stock Option (right to buy)	$20.32	2016-12-14	Common Stock (19500)	19500	Direct
Employee Stock Option (right to buy)	$20.96	2017-12-13	Common Stock (22500)	22500	Direct
Employee Stock Option (right to buy)	$16.52	2018-08-13	Common Stock (11250)	11250	Direct
Employee Stock Option (right to buy)	$12.75	2018-12-11	Common Stock (16000)	16000	Direct
Employee Stock Option (right to buy)	$13.01	2019-06-01	Common Stock (10000)	10000	Direct
Employee Stock Option (right to buy)	$22.15	2019-12-10	Common Stock (10000)	10000	Direct
Employee Stock Option (right to buy)	$31.19	2020-06-01	Common Stock (10000)	10000	Direct

Footnotes

F1: 20% per year for 5 years

F2: 25% per year for 4 years