WINMARK CORP — Director's Dealing 2018

Apr 30, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2018-04-26

Reporting Person: MURPHY STEVEN (President of Franchising)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-04-26	Common Stock	M	1375	$37.76	Acquired	1375	Direct
2018-04-26	Common Stock	S	100	$135.10	Disposed	1275	Direct
2018-04-26	Common Stock	S	1275	$133.52	Disposed	0	Direct
2018-04-30	Common Stock	M	10	$37.76	Acquired	10	Direct
2018-04-30	Common Stock	S	10	$132.35	Disposed	0	Direct
2018-04-30	Common Stock	M	250	$51.17	Acquired	250	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-04-26	Employee Stock Option (right to buy)	$37.76	M	1385	Disposed	2021-06-01	Common Stock (1385)	Direct
2018-04-30	Employee Stock Option (right to buy)	$51.17	M	250	Disposed	2022-06-01	Common Stock (250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	95952	Indirect
Common Stock	350	Indirect
Common Stock	350	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$53.34	2021-12-08	Common Stock (9013)	9013	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
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

Footnotes

F1: 25% per year for 4 years

F2: 100 shares sold at an average price of $135.10 to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 1,275 shares sold at an average price of $133.52, with a range of $133.35 to $134.20, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F4: 10 shares sold at a price of $132.35 to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F5: 1,375 option shares exercised 4/26/2018 and 10 option shares exercised 4/30/2018 as indicated in Table 1.