WINMARK CORP — Director's Dealing 2025

Nov 21, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2025-11-19

Reporting Person: GRASSLE JENELE C (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-19	Common Stock	M	800	$98.25	Acquired	3300	Direct
2025-11-19	Common Stock	M	800	$125.50	Acquired	4100	Direct
2025-11-19	Common Stock	M	800	$122.50	Acquired	4900	Direct
2025-11-21	Common Stock	S	2400	$420.87	Disposed	2500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-19	Non-Employee Stock Option (right to buy)	$98.25	M	800	Disposed	2026-06-01	Common Stock (800)	Direct
2025-11-19	Non-Employee Stock Option (right to buy)	$125.50	M	800	Disposed	2026-12-12	Common Stock (800)	Direct
2025-11-19	Non-Employee Stock Option (right to buy)	$122.50	M	800	Disposed	2027-06-01	Common Stock (800)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Employee Stock Option (right to buy)	$134.25	2027-12-11	Common Stock (800)	800	Direct
Non-Employee Stock Option (right to buy)	$143.20	2028-06-01	Common Stock (800)	800	Direct
Non-Employee Stock Option (right to buy)	$156	2028-12-11	Common Stock (800)	800	Direct
Non-Employee Stock Option (right to buy)	$164.84	2029-06-01	Common Stock (750)	750	Direct
Non-Employee Stock Option (right to buy)	$176.20	2029-12-16	Common Stock (750)	750	Direct
Non-Employee Stock Option (right to buy)	$143.87	2030-06-01	Common Stock (750)	750	Direct
Non-Employee Stock Option (right to buy)	$183.87	2030-12-14	Common Stock (750)	750	Direct
Non-Employee Stock Option (right to buy)	$195.82	2031-06-01	Common Stock (750)	750	Direct
Non-Employee Stock Option (right to buy)	$261.32	2031-12-13	Common Stock (750)	750	Direct
Non-Employee Stock Option (right to buy)	$197.80	2032-06-01	Common Stock (880)	880	Direct
Non-Employee Stock Option (right to buy)	$238.60	2032-12-12	Common Stock (620)	620	Direct
Non-Employee Stock Option (right to buy)	$325.99	2033-06-01	Common Stock (380)	380	Direct
Non-Employee Stock Option (right to buy)	$446.68	2033-12-01	Common Stock (240)	240	Direct
Non-Employee Stock Option (right to buy)	$355.90	2034-06-01	Common Stock (300)	300	Direct
Non-Employee Stock Option (right to buy)	$400.97	2034-12-09	Common Stock (300)	300	Direct
Non-Employee Stock Option (right to buy)	$424.82	2035-06-01	Common Stock (280)	280	Direct

Footnotes

F1: 25% per year for four years.