WINMARK CORP — Director's Dealing 2018

Aug 17, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2018-08-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-08-15	Common Stock	M	4000	$12.75	Acquired	6003	Direct
2018-08-15	Common Stock	S	2524	$147.50	Disposed	3479	Direct
2018-08-16	Common Stock	M	1786	$12.75	Acquired	5265	Direct
2018-08-16	Common Stock	M	2306	$13.01	Acquired	7571	Direct
2018-08-16	Common Stock	S	3500	$148.48	Disposed	4071	Direct
2018-08-17	Common Stock	M	1500	$13.01	Acquired	5571	Direct
2018-08-17	Common Stock	S	1230	$148.47	Disposed	4341	Direct
2018-07-13	Common Stock	G	600	—	Disposed	57636	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-08-15	Employee Stock Option (right to buy)	$12.75	M	5786	Disposed	2018-12-11	Common Stock (5786)	Direct
2018-08-16	Employee Stock Option (right to buy)	$13.01	M	3806	Disposed	2019-06-01	Common Stock (7306)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	800	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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 (8581)	8581	Direct
Employee Stock Option (right to buy)	$37.76	2021-06-01	Common Stock (6937)	6937	Direct
Employee Stock Option (right to buy)	$53.34	2021-12-08	Common Stock (9013)	9013	Direct
Employee Stock Option (right to buy)	$51.17	2022-06-01	Common Stock (7296)	7296	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 (7577)	7577	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 (right to buy)	$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: 3,500 shares sold at an average price of $148.48, with a range of $148.00 to $149.00, to cover payment of a portion of the taxes due on option exercise included on this Form 4.

F3: 4,000 shares exercised on 8/15/18 and 1,786 shares exercised on 8/16/18 as noted in Table 1.

F4: 2,306 shares exercised on 8/16/18 and 1,500 shares exercised on 8/17/18 as noted in Table 1.

F5: 1,230 shares sold at an average price of $148.47, with a range of $148.00 to $148.55, to cover payment of a portion of the taxes due on option exercise included on this Form 4.