Brett D. Heffes - 21 Oct 2021 Form 4 Insider Report for WINMARK CORP (WINA)

Role: Chairman and CEO, Director
Signature: /s/Brett D. Heffes
Issuer symbol: WINA
Transactions as of: 21 Oct 2021
Net transactions value: -$2,420,659
Form type: 4
Filing time: 25 Oct 2021, 17:46:44 UTC
Previous filing: 01 Jun 2021
Next filing: 29 Oct 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WINA	Common Stock	Options Exercise	$418,548	+5,211	+5.1%	$80.32	107,411	21 Oct 2021	Direct
transaction	WINA	Common Stock	Sale	$1,139,437	-5,211	-4.9%	$218.66	102,200	21 Oct 2021	Direct	F2
transaction	WINA	Common Stock	Options Exercise	$54,859	+683	+0.67%	$80.32	102,883	21 Oct 2021	Direct
transaction	WINA	Common Stock	Options Exercise	$99,920	+1,017	+0.99%	$98.25	103,900	21 Oct 2021	Direct
transaction	WINA	Common Stock	Options Exercise	$148,979	+1,801	+1.7%	$82.72	105,701	22 Oct 2021	Direct
transaction	WINA	Common Stock	Options Exercise	$44,658	+556	+0.53%	$80.32	106,257	22 Oct 2021	Direct
transaction	WINA	Common Stock	Sale	$514,297	-2,357	-2.2%	$218.20	103,900	22 Oct 2021	Direct	F3
transaction	WINA	Common Stock	Options Exercise	$64,256	+800	+0.77%	$80.32	104,700	22 Oct 2021	Direct
transaction	WINA	Common Stock	Options Exercise	$291,009	+3,518	+3.4%	$82.72	108,218	25 Oct 2021	Direct
transaction	WINA	Common Stock	Sale	$766,924	-3,518	-3.3%	$218.00	104,700	25 Oct 2021	Direct	F4
transaction	WINA	Common Stock	Options Exercise	$99,264	+1,200	+1.1%	$82.72	105,900	25 Oct 2021	Direct
transaction	WINA	Common Stock	Options Exercise	$8,032	+100	+0.09%	$80.32	106,000	25 Oct 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WINA	Employee Stock Option (right to buy)	Options Exercise	$539,252	-6,519	-70%	$82.72	2,731	22 Oct 2021	Common Stock	9,250	$82.72	Direct	F1, F5
transaction	WINA	Employee Stock Option (right to buy)	Options Exercise	$590,352	-7,350	-100%	$80.32	0	21 Oct 2021	Common Stock	7,350	$80.32	Direct	F1, F6
transaction	WINA	Employee Stock Option (right to buy)	Options Exercise	$99,920	-1,017	-20%	$98.25	3,983	21 Oct 2021	Common Stock	5,000	$98.25	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						5,713	21 Oct 2021	Common Stock	5,713	$91.93	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						6,800	21 Oct 2021	Common Stock	6,800	$90.99	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						5,000	21 Oct 2021	Common Stock	5,000	$125.50	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						5,000	21 Oct 2021	Common Stock	5,000	$122.50	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						5,000	21 Oct 2021	Common Stock	5,000	$134.25	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						5,000	21 Oct 2021	Common Stock	5,000	$143.20	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						5,000	21 Oct 2021	Common Stock	5,000	$156.00	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						4,000	21 Oct 2021	Common Stock	4,000	$164.84	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						4,000	21 Oct 2021	Common Stock	4,000	$176.20	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						4,000	21 Oct 2021	Common Stock	4,000	$143.87	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						4,000	21 Oct 2021	Common Stock	4,000	$183.87	Direct	F1
holding	WINA	Employee Stock Option (right to buy)						4,000	21 Oct 2021	Common Stock	4,000	$195.82	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.