WINMARK CORP — Director's Dealing 2014

Jan 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2014-01-15

Reporting Person: Phillips Dean B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-15	Common Stock	S	4000	$83.96	Disposed	12000	Direct
2014-01-15	Common Stock	S	2000	$84.45	Disposed	10000	Direct
2014-01-16	Common Stock	S	2000	$83.10	Disposed	8000	Direct
2014-01-16	Common Stock	S	2000	$84.65	Disposed	6000	Direct
2014-01-17	Common Stock	S	146	$82.31	Disposed	5854	Direct
2014-01-17	Common Stock	S	121	$83.50	Disposed	5733	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Employee Director Stock Option (right to buy)	$13.01	2019-06-01	Common Stock (250)	250	Direct
Nonemployee Director Stock Option (right to buy)	$22.15	2019-12-10	Common Stock (250)	250	Direct
Non-Employee Director Stock Option (right to buy)	$31.19	2020-06-01	Common Stock (500)	500	Direct
Non-Employee Director Stock Option (right to buy)	$32.92	2020-12-14	Common Stock (500)	500	Direct
Non-Employee Director Stock Option (right to buy)	$37.76	2021-06-01	Common Stock (750)	750	Direct
Nonemployee Director Stock Option (right to buy)	$53.34	2021-12-08	Common Stock (750)	750	Direct
Non-Employee Director Stock Option (right to buy)	$51.17	2022-06-01	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$55.72	2022-12-13	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$59.77	2023-06-01	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$82.72	2023-12-16	Common Stock (1000)	1000	Direct

Footnotes

F1: 25% per year for four years.

F2: 4,000 shares sold at an average price of $83.96, with a range of $83.25 to $84.25.

F3: 146 shares sold at an average price of $82.31, with a range of $82.25 to $83.25.