WINMARK CORP — Director's Dealing 2010

Nov 24, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2010-11-22

Reporting Person: Hovey Merry Beth (VP of Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-22	Common Stock	M	200	$20.96	Acquired	700	Direct
2010-11-22	Common Stock	M	600	$16.52	Acquired	1300	Direct
2010-11-22	Common Stock	M	300	$12.75	Acquired	1600	Direct
2010-11-22	Common Stock	M	300	$13.01	Acquired	1900	Direct
2010-11-22	Common Stock	S	649	$33.50	Disposed	1251	Direct
2010-11-23	Common Stock	S	544	$33.50	Disposed	707	Direct
2010-11-23	Common Stock	S	107	$33.3601	Disposed	600	Direct
2010-11-23	Common Stock	S	100	$33.6175	Disposed	500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-22	Employee Stock Option (right to buy)	$20.96	M	200	Disposed	2017-12-13	common stock (200)	Direct
2010-11-22	Employee Stock Option (right to buy)	$16.52	M	600	Disposed	2018-08-13	Common Stock (600)	Direct
2010-11-22	Employee Stock Option (right to buy)	$12.75	M	300	Disposed	2018-12-11	Common Stock (300)	Direct
2010-11-22	Employee Stock Option (right to buy)	$13.01	M	300	Disposed	2019-06-01	Common Stock (300)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$22.15	2019-12-10	Common Stock (1250)	1250	Direct
Employee Stock Option (right to buy)	$31.19	2020-06-01	Common Stock (1250)	1250	Direct

Footnotes

F1: 25% per year for four years