WINMARK CORP — Director's Dealing 2023

Apr 27, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2023-04-26

Reporting Person: HEFFES BRETT D (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-04-26	Common Stock	M	1527	$98.25	Acquired	110027	Direct
2023-04-26	Common Stock	M	5000	$125.50	Acquired	115027	Direct
2023-04-26	Common Stock	S	2216	$335.25	Disposed	112811	Direct
2023-04-26	Common Stock	S	1009	$338.43	Disposed	111802	Direct
2023-04-26	Common Stock	S	3302	$340.07	Disposed	108500	Direct
2023-04-26	Common Stock	M	1602	$98.25	Acquired	110102	Direct
2023-04-26	Common Stock	M	698	$143.20	Acquired	110800	Direct
2023-04-27	Common Stock	G	800	—	Disposed	110000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-04-27	Employee Stock Option (right to buy)	$98.25	M	3129	Disposed	2026-06-01	Common Stock (3129)	Direct
2023-04-27	Employee Stock Option (right to buy)	$143.20	M	698	Disposed	2028-06-01	Common Stock (5000)	Direct
2023-04-27	Employee Stock Option (right to buy)	$125.50	M	5000	Disposed	2026-12-12	Common Stock (5000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$122.50	2027-06-01	Common Stock (4184)	4184	Direct
Employee Stock Option (right to buy)	$134.25	2027-12-11	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$156	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
Employee Stock Option (right to buy)	$261.32	2031-12-13	Common Stock (11100)	11100	Direct
Employee Stock Option (right to buy)	$197.80	2032-06-01	Common Stock (9360)	9360	Direct
Employee Stock Option (right to buy)	$238.60	2032-12-12	Common Stock (5740)	5740	Direct

Footnotes

F1: 2,216 shares sold at an average price of $335.25 with a range of $335.10 to $335.74, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F2: 1,009 shares sold at an average price of $338.43 with a range of $338.00 to $338.91, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 3,302 shares sold at an average price of $340.07 with a range of $340.00 to $340.78, to cover payment of exercise price of and taxes due on option exercises included on this Form 4.

F4: 25% per year for four years.