WINMARK CORP — Director's Dealing 2011

Feb 24, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2011-02-22

Reporting Person: MURPHY STEVEN (President of Franchising)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-22	Common Stock	M	10000	$10	Acquired	37102	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-22	Employee Stock Option (right to buy)	$10.00	M	10000	Disposed	2012-12-18	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	350	Indirect
Common Stock	350	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$18.25	2013-12-16	Common Stock (10000)	10000	Direct
Employee Stock Option	$26.05	2014-12-09	Common Stock (10000)	10000	Direct
Employee Stock Option (right to buy)	$20.46	2015-12-13	Common Stock (10000)	10000	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
Employee Stock Option (right to buy)	$32.92	2020-12-14	Common Stock (9250)	9250	Direct

Footnotes

F1: 25% per year for 4 years