WINMARK CORP — Director's Dealing 2021

Oct 19, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2021-10-15

Reporting Person: Ishaug Anthony D (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-15	Common Stock	M	2651	$53.34	Acquired	30881	Direct
2021-10-15	Common Stock	S	516	$223.00	Disposed	30365	Direct
2021-10-15	Common Stock	S	500	$221.68	Disposed	29865	Direct
2021-10-15	Common Stock	S	1635	$220.28	Disposed	28230	Direct
2021-10-15	Common Stock	M	547	$53.34	Acquired	28777	Direct
2021-10-15	Common Stock	M	1875	$51.17	Acquired	30652	Direct
2021-10-15	Common Stock	M	72	$55.72	Acquired	30724	Direct
2021-10-15	Common Stock	M	1673	$59.77	Acquired	32397	Direct
2021-10-18	Common Stock	M	4302	$53.34	Acquired	36699	Direct
2021-10-18	Common Stock	S	4302	$218.17	Disposed	32397	Direct
2021-10-18	Common Stock	M	1508	$66.29	Acquired	33905	Direct
2021-10-18	Common Stock	M	1087	$91.93	Acquired	34992	Direct
2021-10-18	Common Stock	M	1017	$98.25	Acquired	36009	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-15	Employee Stock Option (right to buy)	$53.34	M	7500	Disposed	2021-12-08	Common Stock (7500)	Direct
2021-10-15	Employee Stock Option (right to buy)	$51.17	M	1875	Disposed	2022-06-01	Common Stock (7500)	Direct
2021-10-15	Employee Stock Option (right to buy)	$55.72	M	72	Disposed	2022-12-13	Common Stock (7500)	Direct
2021-10-15	Employee Stock Option (right to buy)	$59.77	M	1673	Disposed	2023-06-01	Common Stock (7500)	Direct
2021-10-18	Employee Stock Option (right to buy)	$66.29	M	1508	Disposed	2024-06-01	Common Stock (7500)	Direct
2021-10-18	Employee Stock Option (right to buy)	$91.93	M	1087	Disposed	2025-06-01	Common Stock (6800)	Direct
2021-10-18	Employee Stock Option (right to buy)	$98.25	M	1017	Disposed	2026-06-01	Common Stock (6800)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$82.72	2023-12-16	Common Stock (7500)	7500	Direct
Employee Stock Option (right to buy)	$80.32	2024-12-15	Common Stock (7500)	7500	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 (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: 516 shares sold at a price of $223.00 to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 500 shares sold at an average price of $221.68, with a range of $221.10 to $222.00, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F4: 1,635 shares sold at an average price of $220.28, with a range of $220.00 to $221.00, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F5: 4,302 shares sold at an average price of $218.17, with a range of $218.00 to $218.57, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F6: 3,198 option shares exercised 10/15/2021 and 4,302 option shares exercised 10/18/2021 as indicated in Table 1.