Winmark SEC Filings

Winmark Corporation announced third-quarter results and declared shareholder cash distributions. The Board approved a regular quarterly dividend of $0.96 per share and a special dividend of $10.00 per share.

Both dividends will be paid on December 1, 2025 to shareholders of record at the close of business on November 12, 2025. The special dividend totals approximately $35.6 million based on the current number of shares outstanding. The company stated that future dividends will be subject to Board approval.

Winmark Corporation (WINA) filed its Q3 2025 10‑Q, showing steady growth driven by franchise royalties and continued capital returns to shareholders. Revenue for the quarter reached $22.6 million, up from $21.5 million a year ago, as higher franchise retail sales and a larger store base lifted royalties to $20.9 million. Net income was $11.1 million versus $11.1 million last year, as increased compensation and advertising timing raised selling, general and administrative expenses to $7.0 million.

Year to date, revenue was $65.0 million versus $61.7 million, and net income was $31.7 million versus $30.4 million. Cash, cash equivalents and restricted cash were $39.9 million as of September 27, 2025. Long‑term borrowings included $30.0 million of delayed draw term loans under the credit facility and $30.0 million of Series C notes at 3.18%.

The Board approved a $10.00 per share special cash dividend to shareholders of record on November 12, 2025, payable on December 1, 2025; the company estimates approximately $35.6 million based on current shares and expects to fund it with cash on hand. The leasing portfolio run‑off is substantially complete; 2025 year‑to‑date leasing income of $2.4 million included $2.2 million from a customer litigation settlement.

Winmark Corp (WINA) reports an initial Form 3 from Lisa S. Hake, who identifies as Chief Marketing Officer and an officer of the company. The filing records an event date of 10/01/2025 and states that no securities are beneficially owned by the reporting person at this time.

Lawrance A. Barbetta, a director of Winmark Corp (WINA), reported open-market sales of common stock on 09/17/2025. The Form 4 shows two sales: 216 shares sold at an average price of $505.33 (range $505.11–$506.10) and 636 shares sold at an average price of $504.91 (range $504.77–$505.01). After those transactions the reported amounts beneficially owned are shown as 1,285 and 649 shares respectively. The filing also lists outstanding non-employee director stock options that in aggregate cover 7,551 underlying shares with various exercise prices and expiration dates through 2035.

Winmark Corp (WINA) submitted a Form 144 notice proposing to sell 852 shares of common stock through RBC Capital Markets. The filing lists an aggregate market value of $430,274.00 and shows 3,548,458 shares outstanding. The securities were acquired on 11/08/2021 by stock option exercise from the issuer. The approximate sale date is 09/17/2025. The filer reports no securities sold in the past three months and includes the standard Rule 144 attestations and signature warnings.

Brett D. Heffes, Chair and CEO of Winmark Corp (WINA), reported multiple option exercises and offsetting stock sales on August 26-27, 2025. He exercised several employee stock options at strike prices including $143.87, $164.84, $176.20 and $195.82, resulting in newly acquired common shares recorded in Table I and Table II. To cover exercise costs and tax withholding, Heffes sold multiple lots totaling several thousand shares at prices ranging roughly from $451.75 to $459.23. After these transactions he beneficially owned 114,338 (common stock totals shown as 114,400–119,371 across entries) directly and retained numerous outstanding options across multiple grant vintages.

Winmark Corp (WINA) reported a Form 144 notice showing a proposed sale of 4,971 common shares through Piper Sandler & Co. The filing lists an aggregate market value of $2,233,072.62 for those shares and indicates approximately 3,548,458 shares outstanding. The shares were acquired and are being sold on 08/27/2025 following a stock option exercise, with payment made in cash. The filing also discloses a recent sale the prior day of 2,441 shares with gross proceeds of $1,110,810.25 by Brett Heffes. The notice includes the standard signer representation that no undisclosed material adverse information exists.

Winmark Corp (WINA) filed a Form 144 reporting the proposed sale of 2,441 shares of Common Stock through Piper Sandler & Co. The filing lists an aggregate market value of $1,116,757.50 and shows the securities are listed on Nasdaq. The planned approximate date of sale is 08/26/2025.

The securities were acquired and paid for on 08/26/2025 by stock option exercise from the issuer, with payment in cash. The filer reports no securities sold in the past three months and includes the standard representation that the selling person is not aware of undisclosed material adverse information.

Insider option grant recorded on Form 4 for Winmark Corp (WINA). Director Keith Credendino was granted a non-employee stock option to buy 3,000 shares at an exercise price of $393.64 on 08/07/2025. The option becomes exercisable beginning 08/07/2026 and expires on 08/07/2035. The filing shows 3,000 options beneficially owned after the grant and notes a vesting schedule of 25% per year for four years, meaning full vesting by the fourth anniversary. The Form 4 was signed by Mr. Credendino on 08/25/2025.