WINMARK CORP — Director's Dealing 2019

Jul 26, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2019-07-24

Reporting Person: HEFFES BRETT D (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-07-24	Common Stock	M	1094	$51.17	Acquired	120494	Direct
2019-07-24	Common Stock	M	5632	$55.72	Acquired	126126	Direct
2019-07-24	Common Stock	S	155	$174.07	Disposed	125971	Direct
2019-07-24	Common Stock	S	6571	$171.02	Disposed	119400	Direct
2019-07-24	Common Stock	M	1069	$51.17	Acquired	120469	Direct
2019-07-24	Common Stock	M	1181	$66.29	Acquired	121650	Direct
2019-07-25	Common Stock	M	888	$55.72	Acquired	122538	Direct
2019-07-25	Common Stock	S	888	$172.00	Disposed	121650	Direct
2019-07-25	Common Stock	M	300	$51.17	Acquired	121950	Direct
2019-07-26	Common Stock	M	2730	$55.72	Acquired	124680	Direct
2019-07-26	Common Stock	S	2058	$170.17	Disposed	122622	Direct
2019-07-26	Common Stock	S	672	$169.5	Disposed	121950	Direct
2019-07-26	Common Stock	M	950	$51.17	Acquired	122900	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-07-24	Employee Stock Option (right to buy)	$51.17	M	3413	Disposed	2022-06-01	Common Stock (3413)	Direct
2019-07-24	Employee Stock Option (right to buy)	$55.72	M	9250	Disposed	2022-12-13	Common Stock (9250)	Direct
2019-07-24	Employee Stock Option (right to buy)	$66.29	M	1181	Disposed	2024-06-01	Common Stock (8173)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1300	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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)	$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
Employee Stock Option (right to buy)	$156.00	2028-12-11	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$164.84	2029-06-01	Common Stock (4000)	4000	Direct

Footnotes

F1: 25% per year for four years.

F2: 155 shares sold at an average price of $174.04, with a range of $174.04 to $174.20, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 6,571 shares sold at an average price of $171.02, with a range of $171.00 to $172.00, to cover payment of exercise price of and taxes due on option exercises included on this Form 4

F4: 2,058 shares sold at an average price of $170.17, with a range of $170.00 to $170.69, to cover payment of exercise price of and taxes due on option exercises included on this Form 4

F5: 2,163 option shares exercised 07/24/2019, 300 option shares exercised 07/25/2019 and 950 option shares exercised 07/26/2019 as indicated in Table I

F6: 5,632 option shares exercised 07/24/2019, 888 option shares exercised 07/25/2019 and 2,730 option shares exercised 07/26/2019 as indicated in Table I