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

Signature
/s/ Brett D. Heffes
Stock symbol
WINA
Transactions as of
Aug 26, 2025
Transactions value $
-$3,367,099
Form type
4
Date filed
8/28/2025, 04:25 PM
Previous filing
Jul 17, 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 2025-08-28 0001237904

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WINA Common Stock Options Exercise $276K +1.92K +1.7% $143.87 114K Aug 26, 2025 Direct
transaction WINA Common Stock Options Exercise $86.7K +526 +0.46% $164.84 115K Aug 26, 2025 Direct
transaction WINA Common Stock Options Exercise $99.9K +510 +0.44% $195.82 115K Aug 26, 2025 Direct
transaction WINA Common Stock Sale -$275K -600 -0.52% $458.65 115K Aug 26, 2025 Direct F1
transaction WINA Common Stock Sale -$183K -400 -0.35% $456.97 114K Aug 26, 2025 Direct F2
transaction WINA Common Stock Sale -$363K -800 -0.7% $453.82 114K Aug 26, 2025 Direct F3
transaction WINA Common Stock Sale -$290K -641 -0.56% $452.07 113K Aug 26, 2025 Direct F4
transaction WINA Common Stock Options Exercise $371K +2.1K +1.86% $176.20 115K Aug 27, 2025 Direct
transaction WINA Common Stock Options Exercise $473K +2.87K +2.49% $164.84 118K Aug 27, 2025 Direct
transaction WINA Common Stock Options Exercise $200K +1.39K +1.18% $143.87 119K Aug 27, 2025 Direct
transaction WINA Common Stock Sale -$903K -1.99K -1.66% $454.95 117K Aug 27, 2025 Direct F5
transaction WINA Common Stock Sale -$538K -1.19K -1.01% $454.03 116K Aug 27, 2025 Direct F6
transaction WINA Common Stock Sale -$738K -1.63K -1.4% $452.72 115K Aug 27, 2025 Direct F7
transaction WINA Common Stock Sale -$76.8K -170 -0.15% $451.76 114K Aug 27, 2025 Direct F8
holding WINA Common Stock 338 Aug 26, 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 -$559K -3.39K -100% $164.84 0 Aug 26, 2025 Common Stock 3.39K $164.84 Direct F9, F10
transaction WINA Employee Stock Option (right to buy) Options Exercise -$371K -2.1K -52.58% $176.20 1.9K Aug 27, 2025 Common Stock 4K $176.20 Direct F10
transaction WINA Employee Stock Option (right to buy) Options Exercise -$475K -3.31K -100% $143.87 0 Aug 26, 2025 Common Stock 3.31K $143.87 Direct F10, F11
transaction WINA Employee Stock Option (right to buy) Options Exercise -$99.9K -510 -12.75% $195.82 3.49K Aug 26, 2025 Common Stock 4K $195.82 Direct F10
holding WINA Employee Stock Option (right to buy) 4K Aug 26, 2025 Common Stock 4K $183.87 Direct F10
holding WINA Employee Stock Option (right to buy) 11.1K Aug 26, 2025 Common Stock 11.1K $261.32 Direct F10
holding WINA Employee Stock Option (right to buy) 9.36K Aug 26, 2025 Common Stock 9.36K $197.80 Direct F10
holding WINA Employee Stock Option (right to buy) 5.74K Aug 26, 2025 Common Stock 5.74K $238.60 Direct F10
holding WINA Employee Stock Option (right to buy) 4.12K Aug 26, 2025 Common Stock 4.12K $325.99 Direct F10
holding WINA Employee Stock Option (right to buy) 3.58K Aug 26, 2025 Common Stock 3.58K $355.90 Direct F10
holding WINA Employee Stock Option (right to buy) 3.26K Aug 26, 2025 Common Stock 3.26K $400.97 Direct F10
holding WINA Employee Stock Option (right to buy) 2.98K Aug 26, 2025 Common Stock 2.98K $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