WINMARK CORP — Director's Dealing 2018

May 9, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2018-05-07

Reporting Person: GRASSLE JENELE C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-07	Common Stock	M	1000	$13.01	Acquired	6500	Direct
2018-05-07	Common Stock	M	1000	$22.15	Acquired	7500	Direct
2018-05-07	Common Stock	S	1728	$132.11	Disposed	5772	Direct
2018-05-08	Common Stock	S	513	$129.86	Disposed	5259	Direct
2018-05-08	Common Stock	S	759	$132.40	Disposed	4500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-07	Non-Employee Director Stock Option (right to buy)	$13.01	M	1000	Disposed	2019-06-01	Common Stock (1000)	Direct
2018-05-07	Nonemployee Director Stock Option (right to buy)	$22.15	M	1000	Disposed	2019-12-10	Common Stock (1000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Employee Director Stock Option (right to buy)	$31.19	2020-06-01	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$32.92	2020-12-14	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$37.76	2021-06-01	Common Stock (1000)	1000	Direct
Nonemployee Director Stock Option (right to buy)	$53.34	2021-12-08	Common Stock (1000)	1000	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
Non-Employee Director Stock Option (right to buy)	$66.29	2024-06-01	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$80.32	2024-12-15	Common Stock (1000)	1000	Direct
Non-Employee Director Stock Option (right to buy)	$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.

F2: 1,728 shares sold at an average price of $132.11, with a range of $132.00 to $133.00.

F3: 513 shares sold at an average price of $129.86, with a range of $129.85 to $129.90.

F4: 759 shares sold at an average price of $132.40, with a range of $132.00 to $132.93.