WINMARK CORP — Director's Dealing 2021

Oct 25, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2021-10-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-21	Common Stock	M	5211	$80.32	Acquired	107411	Direct
2021-10-21	Common Stock	S	5211	$218.66	Disposed	102200	Direct
2021-10-21	Common Stock	M	683	$80.32	Acquired	102883	Direct
2021-10-21	Common Stock	M	1017	$98.25	Acquired	103900	Direct
2021-10-22	Common Stock	M	1801	$82.72	Acquired	105701	Direct
2021-10-22	Common Stock	M	556	$80.32	Acquired	106257	Direct
2021-10-22	Common Stock	S	2357	$218.20	Disposed	103900	Direct
2021-10-22	Common Stock	M	800	$80.32	Acquired	104700	Direct
2021-10-25	Common Stock	M	3518	$82.72	Acquired	108218	Direct
2021-10-25	Common Stock	S	3518	$218.00	Disposed	104700	Direct
2021-10-25	Common Stock	M	1200	$82.72	Acquired	105900	Direct
2021-10-25	Common Stock	M	100	$80.32	Acquired	106000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-22	Employee Stock Option (right to buy)	$82.72	M	6519	Disposed	2023-12-16	Common Stock (9250)	Direct
2021-10-21	Employee Stock Option (right to buy)	$80.32	M	7350	Disposed	2024-12-15	Common Stock (7350)	Direct
2021-10-21	Employee Stock Option (right to buy)	$98.25	M	1017	Disposed	2026-06-01	Common Stock (5000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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)	$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
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 four years.

F2: 5,211 shares sold at an average price of $218.66, with a range of $218.00 to $218.83, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 2,357 shares sold at an average price of $218.20, with a range of $218.00 to $218.50, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F4: 3,518 shares sold at an average price of $218.00, with a range of $218.00 to $218.35, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F5: 1,801 option shares exercised 10/22/2021 and 4,718 option shares exercised 10/25/2021 as indicated in Table I.

F6: 5,894 option shares exercised 10/21/2021, 1,356 option shares exercised 10/22/21 and 100 option shares exercised 10/25/2021 as indicated in Table I.