WINMARK CORP — Director's Dealing 2025

Dec 15, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2025-12-15

Reporting Person: SMITH PHILIP IRVING (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-15	Non-Employee Stock Option (right to buy)	$444.54	A	256	Acquired	2035-12-15	Common Stock (256)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Employee Stock Option (right to buy)	$291.01	2033-03-01	Common Stock (4500)	4500	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	2033-12-11	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.