WINMARK CORP — Director's Dealing 2015

Dec 14, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2015-12-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-13	Common Stock	M	452	$20.46	Disposed	4124	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-13	Employee Stock Option (right to buy)	$20.46	M	452	Disposed	2015-12-13	Common Stock (452)	Direct
2015-12-14	Employee Stock Option (right to buy)	$90.99	A	6800	Acquired	2025-12-14	Common Stock (6800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	43405	Indirect
Common Stock	500	Indirect
Common Stock	500	Indirect
Common Stock	500	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$20.32	2016-12-14	Common Stock (14625)	14625	Direct
Employee Stock Option (right to buy)	$20.96	2017-12-13	Common Stock (17686)	17686	Direct
Employee Stock Option (right to buy)	$16.52	2018-08-13	Common Stock (8437)	8437	Direct
Employee Stock Option (right to buy)	$12.75	2018-12-11	Common Stock (5786)	5786	Direct
Employee Stock Option (right to buy)	$13.01	2019-06-01	Common Stock (7306)	7306	Direct
Employee Stock Option (right to buy)	$22.15	2019-12-10	Common Stock (7500)	7500	Direct
Employee Stock Option (right to buy)	$31.19	2020-06-01	Common Stock (7113)	7113	Direct
Employee Stock Option (right to buy)	$32.92	2020-12-14	Common Stock (9250)	8581	Direct
Employee Stock Option (right to buy)	$37.76	2021-06-01	Common Stock (9250)	9250	Direct
Employee Stock Option (right to buy)	$53.34	2021-12-08	Common Stock (9250)	9250	Direct
Employee Stock Option (right to buy)	$51.17	2022-06-01	Common Stock (9250)	9250	Direct
Employee Stock Option (right to buy)	$55.72	2022-12-13	Common Stock (9250)	9250	Direct
Employee Stock Option (right to buy)	$59.77	2023-06-01	Common Stock (9250)	9250	Direct
Employee Stock Option (right to buy)	$82.72	2023-12-16	Common Stock (9250)	9250	Direct
Employee Stock Option (right to buy)	$66.29	2024-06-01	Common Stock (8500)	8500	Direct
Employee Stock Option (right to buy)	$80.32	2024-12-15	Common Stock (8500)	8500	Direct
Employee Stock Option (right to buy)	$91.93	2025-06-01	Common Stock (6800)	6800	Direct

Footnotes

F1: 25% per year for 4 years