WINMARK CORP - Director's Dealing 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2020-08-06

Reporting Person: HEFFES BRETT D (Director, Chairman and CEO)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-06	Common Stock	S	5784	$162.95	Disposed	118716	Direct
2020-08-07	Common Stock	S	100	$164.85	Disposed	118616	Direct
2020-08-07	Common Stock	S	4116	$162.88	Disposed	114500	Direct
2020-08-10	Common Stock	S	2500	$166.00	Disposed	112000	Direct

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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 (7350)	7350	Direct
Employee Stock Option (right to buy)	$91.93	2025-06-01	Common Stock (5713)	5713	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
Employee Stock Option (right to buy)	$176.20	2029-12-16	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$143.87	2030-06-01	Common Stock (4000)	4000	Direct

F1: 25% per year for four years.

F2: 5,784 shares sold at an average price of $162.95, with a range of $162.63 to $163.10.

F3: 4,116 shares sold at an average price of $162.88, with a range of $162.50 to $163.44