WINMARK CORP — Director's Dealing 2017

Dec 21, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2017-12-21

Reporting Person: REYELTS PAUL C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-12-21	Common Stock	M	500	$12.75	Acquired	7900	Direct
2017-12-21	Common Stock	M	250	$13.01	Acquired	8150	Direct
2017-12-21	Common Stock	M	500	$22.15	Acquired	8650	Direct
2017-12-21	Common Stock	M	500	$31.19	Acquired	9150	Direct
2017-12-21	Common Stock	M	750	$32.92	Acquired	9900	Direct
2017-12-21	Common Stock	M	750	$37.76	Acquired	10650	Direct
2017-12-21	Common Stock	M	1000	$53.34	Acquired	11650	Direct
2017-12-21	Common Stock	M	1000	$51.17	Acquired	12650	Direct
2017-12-21	Common Stock	M	1000	$55.72	Acquired	13650	Direct
2017-12-21	Common Stock	M	1000	$59.77	Acquired	14650	Direct
2017-12-21	Common Stock	M	1000	$82.72	Acquired	15650	Direct
2017-12-21	Common Stock	M	750	$66.29	Acquired	16400	Direct
2017-12-21	Common Stock	M	750	$80.32	Acquired	17150	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-12-21	Non-Employee Director Stock Option (right to buy)	$12.75	M	500	Disposed	2018-12-11	Common Stock (500)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$13.01	M	250	Disposed	2019-06-01	Common Stock (250)	Direct
2017-12-21	Nonemployee Director Stock Option (right to buy)	$22.15	M	500	Disposed	2019-12-10	Common Stock (500)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$31.19	M	500	Disposed	2020-06-01	Common Stock (500)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$32.92	M	750	Disposed	2020-12-14	Common Stock (750)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$37.76	M	750	Disposed	2021-06-01	Common Stock (750)	Direct
2017-12-21	Nonemployee Director Stock Option (right to buy)	$53.34	M	1000	Disposed	2021-12-08	Common Stock (1000)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$51.17	M	1000	Disposed	2022-06-01	Common Stock (1000)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$55.72	M	1000	Disposed	2022-12-13	Common Stock (1000)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$59.77	M	1000	Disposed	2023-06-01	Common Stock (1000)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$82.72	M	1000	Disposed	2023-12-16	Common Stock (1000)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$66.29	M	750	Disposed	2024-06-01	Common Stock (1000)	Direct
2017-12-21	Non-Employee Director Stock Option (right to buy)	$80.32	M	750	Disposed	2024-12-15	Common Stock (1000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	23297	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Employee Director Stock Option	$91.93	2025-06-01	Common Stock (800)	800	Direct
Non-Employee Director Stock Option (right to buy)	$90.99	2025-12-14	Common Stock (800)	800	Direct
Non-Employee Director Stock Option (right to buy)	$98.25	2026-06-01	Common Stock (800)	800	Direct
Non-Employee Director Stock Option (right to buy)	$125.50	2026-12-12	Common Stock (800)	800	Direct
Non-Employee Director Stock Option (right to buy)	$122.50	2027-06-01	Common Stock (800)	800	Direct
Non-Employee Director Stock Option (right to buy)	$134.25	2027-12-11	Common Stock (800)	800	Direct

Footnotes

F1: 25% per year for four years.