WINMARK CORP — Director's Dealing 2011

Jan 24, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2011-01-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-21	Common Stock	P	283	$33.00	Acquired	9924	Indirect
2011-01-24	Common Stock	P	300	$33.72	Acquired	10224	Indirect
2011-01-24	Common Stock	P	19	$33.59	Acquired	10243	Indirect
2011-01-24	Common Stock	P	38	$33.66	Acquired	10281	Indirect
2011-01-24	Common Stock	P	119	$33.74	Acquired	10400	Indirect
2011-01-24	Common Stock	P	241	$33.75	Acquired	10641	Indirect
2011-01-24	Common Stock	P	1000	$33.75	Acquired	2000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
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
Employee Stock Option (right to buy)	$32.92	2020-12-14	Common Stock (9250)	9250	Direct

Footnotes

F1: 20% per year for 5 years

F2: 25% per year for 4 years