WINMARK CORP — Director's Dealing 2021

Nov 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2021-11-02

Reporting Person: Ishaug Anthony D (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-02	Common Stock	M	2226	$51.17	Acquired	38235	Direct
2021-11-02	Common Stock	S	26	$241.30	Disposed	38209	Direct
2021-11-02	Common Stock	S	18	$239.31	Disposed	38191	Direct
2021-11-02	Common Stock	S	2182	$237.51	Disposed	36009	Direct
2021-11-02	Common Stock	M	3399	$51.17	Acquired	39408	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-02	Employee Stock Option (right to buy)	$51.17	M	5625	Disposed	2022-06-01	Common Stock (5625)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$55.72	2022-12-13	Common Stock (7428)	7428	Direct
Employee Stock Option (right to buy)	$59.77	2023-06-01	Common Stock (5827)	5827	Direct
Employee Stock Option (right to buy)	$82.72	2023-12-16	Common Stock (7500)	7500	Direct
Employee Stock Option (right to buy)	$66.29	2024-06-01	Common Stock (5992)	5992	Direct
Employee Stock Option (right to buy)	$80.32	2024-12-15	Common Stock (7500)	7500	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 (5783)	5783	Direct
Employee Stock Option (right to buy)	$125.50	2026-12-12	Common Stock (6800)	6800	Direct
Employee Stock Option (right to buy)	$122.50	2027-06-06	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	$143.87	2030-06-01	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$183.87	2030-12-14	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$195.82	2031-06-01	Common Stock (4000)	4000	Direct

Footnotes

F1: 25% per year for 4 years

F2: 26 shares sold at an average price of $241.30, with a range of $241.25 to $242.10, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 18 shares sold at an average price of $239.31, with a range of $239.00 to $239.55, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F4: 2,182 shares sold at an average price of $237.51, with a range of $237.50 to $238.22, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.