WINMARK CORP — Director's Dealing 2019

Jul 22, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2019-07-18

Reporting Person: MURPHY STEVEN (President of Franchising)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-07-18	Common Stock	M	1296	$51.17	Acquired	1296	Direct
2019-07-18	Common Stock	M	1704	$55.72	Acquired	3000	Direct
2019-07-18	Common Stock	S	1750	$172.44	Disposed	1250	Direct
2019-07-18	Common Stock	S	900	$171.44	Disposed	350	Direct
2019-07-18	Common Stock	S	350	$169.88	Disposed	0	Direct
2019-07-19	Common Stock	M	459	$55.72	Acquired	459	Direct
2019-07-19	Common Stock	S	459	$167.22	Disposed	0	Direct
2019-07-22	Common Stock	M	1335	$55.72	Acquired	1335	Direct
2019-07-22	Common Stock	S	1335	$166.0	Disposed	0	Direct
2019-07-22	Common Stock	M	1598	$55.72	Acquired	1598	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-07-18	Employee Stock Option (right to buy)	$51.17	M	1296	Disposed	2022-06-01	Common Stock (1296)	Direct
2019-07-18	Employee Stock Option (right to buy)	$55.72	M	5096	Disposed	2022-12-13	Common Stock (8954)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	98512	Indirect
Common Stock	350	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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
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 4 years

F2: 1,750 shares sold at an average price of $172.44, with a range of $172.10 to $172.80, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 900 shares sold at an average price of $171.44, with a range of $171.00 to $172.00, to cover payment of exercise price of and taxes due on option exercise included on this Form 4.

F4: 350 shares sold at an average price of $169.88, with a range of $169.50 to $170.00, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F5: 459 shares sold at an average price of $167.22, with a range of $167.10 to $168.00, to cover payment of exercise price of and taxes due on option exercise included on this Form 4.

F6: 1,335 shares sold at a price of $166.00 to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F7: 1,704 option shares exercised 07/18/2019, 459 option shares exercised 07/19/2019 and 2,933 option shares exercised 07/22/2019 as indicated in Table I.