Winmark Corp grants director stock options at $444.54 per share

Winmark Corp reported an equity award to one of its directors.

Rhea-AI Filing Summary

Winmark Corp reported an equity award to one of its directors. On 12/15/2025, the director received a non-employee stock option to buy 256 shares of common stock at an exercise price of $444.54 per share. The option is scheduled to vest 25% per year for four years and will be exercisable beginning 12/15/2026, with an expiration date of 12/15/2035. The filing also shows the director beneficially owns a separate non-employee stock option covering 3,000 shares at a $393.64 exercise price, exercisable from 08/07/2026 until 08/07/2035.

Insider Trade Summary

Grant/Award: 256 shares

Grant/Award 2 txns

Insider Credendino Keith

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Non-Employee Stock Option (right to buy)	256	$444.54	$114K
holding	Non-Employee Stock Option (right to buy)	--	--	--

Holdings After Transaction: Non-Employee Stock Option (right to buy) — 3,256 contracts for 3,000 underlying shares (Direct)

Footnotes (1)

1. F1. 25% per year for four years.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Winmark Corp (WINA) report in this filing?

The filing reports that a Winmark Corp director received a non-employee stock option on 12/15/2025 covering 256 shares of common stock.

How many Winmark Corp shares are covered by the new stock option grant?

The new non-employee stock option gives the director the right to buy 256 shares of Winmark Corp common stock.

What is the exercise price and term of the new Winmark Corp director options?

The new option has an exercise price of $444.54 per share, becomes exercisable on 12/15/2026, and expires on 12/15/2035.

What is the vesting schedule of the new Winmark Corp non-employee stock option?

According to the footnote, the option vests 25% per year for four years.

What other stock options does the Winmark Corp (WINA) director hold according to this report?

The report also lists a separate non-employee stock option for 3,000 shares of common stock with a $393.64 exercise price, exercisable from 08/07/2026 until 08/07/2035.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/15/2025 - 05:12 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Credendino Keith

(Last) (First) (Middle)

605 HIGHWAY 169 N

SUITE 400

(Street)

MINNEAPOLIS MN 55441

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WINMARK CORP [ WINA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Employee Stock Option (right to buy)	$444.54	12/15/2025		A		256		12/15/2026(1)	12/15/2035	Common Stock	256	$444.54	256	D
Non-Employee Stock Option (right to buy)	$393.64							08/07/2026(1)	08/07/2035	Common Stock	3,000		3,000	D

Explanation of Responses:

1. 25% per year for four years.

	/s/ Keith Credendino	12/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.