Brett D. Heffes - 26 Aug 2025 Form 4 Insider Report for WINMARK CORP (WINA)

Signature
/s/ Brett D. Heffes
Issuer symbol
WINA
Transactions as of
26 Aug 2025
Net transactions value
-$3,367,099
Form type
4
Filing time
28 Aug 2025, 16:25:16 UTC
Previous filing
17 Jul 2025
Next filing
15 Dec 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
HEFFES BRETT D CHAIR AND CEO, Director 605 HIGHWAY 169 N, SUITE 400, MINNEAPOLIS /s/ Brett D. Heffes 28 Aug 2025 0001237904

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WINA Common Stock Options Exercise $275,511 +1,915 +1.7% $143.87 114,415 26 Aug 2025 Direct
transaction WINA Common Stock Options Exercise $86,706 +526 +0.46% $164.84 114,941 26 Aug 2025 Direct
transaction WINA Common Stock Options Exercise $99,868 +510 +0.44% $195.82 115,451 26 Aug 2025 Direct
transaction WINA Common Stock Sale $275,190 -600 -0.52% $458.65 114,851 26 Aug 2025 Direct F1
transaction WINA Common Stock Sale $182,788 -400 -0.35% $456.97 114,451 26 Aug 2025 Direct F2
transaction WINA Common Stock Sale $363,056 -800 -0.7% $453.82 113,651 26 Aug 2025 Direct F3
transaction WINA Common Stock Sale $289,777 -641 -0.56% $452.07 113,010 26 Aug 2025 Direct F4
transaction WINA Common Stock Options Exercise $370,549 +2,103 +1.9% $176.20 115,113 27 Aug 2025 Direct
transaction WINA Common Stock Options Exercise $472,761 +2,868 +2.5% $164.84 117,981 27 Aug 2025 Direct
transaction WINA Common Stock Options Exercise $199,979 +1,390 +1.2% $143.87 119,371 27 Aug 2025 Direct
transaction WINA Common Stock Sale $903,076 -1,985 -1.7% $454.95 117,386 27 Aug 2025 Direct F5
transaction WINA Common Stock Sale $538,480 -1,186 -1% $454.03 116,200 27 Aug 2025 Direct F6
transaction WINA Common Stock Sale $737,934 -1,630 -1.4% $452.72 114,570 27 Aug 2025 Direct F7
transaction WINA Common Stock Sale $76,799 -170 -0.15% $451.76 114,400 27 Aug 2025 Direct F8
holding WINA Common Stock 338 26 Aug 2025 by family office

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 $559,467 -3,394 -100% $164.84 0 26 Aug 2025 Common Stock 3,394 $164.84 Direct F9, F10
transaction WINA Employee Stock Option (right to buy) Options Exercise $370,549 -2,103 -53% $176.20 1,897 27 Aug 2025 Common Stock 4,000 $176.20 Direct F10
transaction WINA Employee Stock Option (right to buy) Options Exercise $475,490 -3,305 -100% $143.87 0 26 Aug 2025 Common Stock 3,305 $143.87 Direct F10, F11
transaction WINA Employee Stock Option (right to buy) Options Exercise $99,868 -510 -13% $195.82 3,490 26 Aug 2025 Common Stock 4,000 $195.82 Direct F10
holding WINA Employee Stock Option (right to buy) 4,000 26 Aug 2025 Common Stock 4,000 $183.87 Direct F10
holding WINA Employee Stock Option (right to buy) 11,100 26 Aug 2025 Common Stock 11,100 $261.32 Direct F10
holding WINA Employee Stock Option (right to buy) 9,360 26 Aug 2025 Common Stock 9,360 $197.80 Direct F10
holding WINA Employee Stock Option (right to buy) 5,740 26 Aug 2025 Common Stock 5,740 $238.60 Direct F10
holding WINA Employee Stock Option (right to buy) 4,120 26 Aug 2025 Common Stock 4,120 $325.99 Direct F10
holding WINA Employee Stock Option (right to buy) 3,580 26 Aug 2025 Common Stock 3,580 $355.90 Direct F10
holding WINA Employee Stock Option (right to buy) 3,260 26 Aug 2025 Common Stock 3,260 $400.97 Direct F10
holding WINA Employee Stock Option (right to buy) 2,984 26 Aug 2025 Common Stock 2,984 $424.82 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 600 shares sold at an average price of $458.65, with a range of $458.34 to $459.23, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F2 400 shares sold at an average price of $456.97, with a range of $456.94 to $457.00, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F3 800 shares sold at an average price of $453.82, with a range of $453.78 to $454.09, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F4 641 shares sold at an average price of $452.07, with a range of $451.75 to $452.46, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F5 1,985 shares sold at an average price of $454.95, with a range of $454.71 and $455.58, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F6 1,186 shares sold at an average price of $454.03, with a range of $453.91 to $454.22, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F7 1,630 shares sold at an average price of $452.72, with a range of $451.85 to $452.81, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F8 170 shares sold at an average price of $451.76, with a range of $451.75 to $451.78, to cover payment of exercise price of and taxes due on option exercises included on this Form 4
F9 526 option shares exercised 8/26/2025 and 2,868 option shares exercised 8/27/2025 as indicated in Table 1
F10 25% per year for four years.
F11 1,915 option shares exercised 8/26/2025 and 1,390 option shares exercised 8/27/2025 as indicated in Table 1