WINMARK CORP — Director's Dealing 2018

Oct 30, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2018-10-30

Reporting Person: MURPHY STEVEN (President of Franchising)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-10-30	Common Stock	M	4555	$53.34	Acquired	4555	Direct
2018-10-30	Common Stock	S	1500	$153.50	Disposed	3055	Direct
2018-10-30	Common Stock	S	3053	$152.12	Disposed	2	Direct
2018-10-30	Common Stock	S	2	$150.00	Disposed	0	Direct
2018-10-30	Common Stock	M	660	$51.17	Acquired	660	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-10-30	Employee Stock Option (right to buy)	$53.34	M	4555	Disposed	2021-12-08	Common Stock (4555)	Direct
2018-10-30	Employee Stock Option (right to buy)	$51.17	M	660	Disposed	2022-06-01	Common Stock (660)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	96852	Indirect
Common Stock	350	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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
Employee Stock Option (right to buy)	$90.99	2025-12-14	Common Stock (6800)	6800	Direct
Employee Stock Option	$98.25	2026-06-01	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$125.50	2026-12-12	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$122.50	2027-06-01	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$134.25	2027-12-11	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$143.20	2028-06-01	Common Stock (5000)	5000	Direct

Footnotes

F1: 25% per year for 4 years

F2: 1,500 shares sold at a price of $153.50 to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 3,053 shares sold at an average price of $152.12, with a range of $152.00 to $152.61, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F4: 2 shares sold at a price of $150.00 to cover payment of exercise price of and taxes due on option exercises included on this Form 4.