Winmark director exercises options for 3,700 shares

WINMARK CORP director Percy C. Tomlinson Jr reported exercising stock options to acquire a total of 3,700 shares of common stock.

Rhea-AI Filing Summary

WINMARK CORP director Percy C. Tomlinson Jr reported exercising stock options to acquire a total of 3,700 shares of common stock. The Form 4 shows two option exercises coded "M": 200 shares at an exercise price of $197.80 per share and 3,500 shares at $242.58 per share. Following these transactions, individual line items report direct common stock holdings of 4,500 shares in one entry and 4,300 shares in another. The filing also lists multiple remaining non-employee stock option awards on WINMARK CORP common stock with exercise prices generally between $238.60 and $446.68 per share, expiring between 2032 and 2036, which vest at a rate of 25% per year for four years.

Insider Trade Summary

3,700 shares exercised/converted

Exercise 12 txns

Insider Tomlinson Percy C Jr

Role Director

Type	Security	Shares	Price	Value
Exercise	Non-Employee Stock Option (right to buy)	3,500	$242.58	$849K
Exercise	Non-Employee Stock Option (right to buy)	200	$197.80	$40K
Exercise	Common Stock	3,500	$242.58	$849K
Exercise	Common Stock	200	$197.80	$40K
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--
holding	Non-Employee Stock Option (right to buy)	--	--	--

Holdings After Transaction: Non-Employee Stock Option (right to buy) — 4,652 contracts for 2,732 underlying shares (Direct); Common Stock — 4,500 shares (Direct)

Footnotes (1)

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

Key Figures

Options exercised: 3,700 shares Exercise price (grant 1): $197.80/share Exercise price (grant 2): $242.58/share +4 more

7 metrics

Options exercised 3,700 shares Total shares acquired through derivative exercises coded M

Exercise price (grant 1) $197.80/share Non-employee stock option on 200 common shares

Exercise price (grant 2) $242.58/share Non-employee stock option on 3,500 common shares

Post-transaction holding (entry 1) 4,500 shares Direct common stock holding reported after 200-share exercise

Post-transaction holding (entry 2) 4,300 shares Direct common stock holding reported after 3,500-share exercise

Remaining option strike range $238.60–$446.68 Exercise prices on outstanding non-employee stock options

Option expirations 2032–2036 Expiration dates for remaining non-employee stock options

Key Terms

Non-Employee Stock Option (right to buy), Exercise or conversion of derivative security, derivative, exercise price, +1 more

5 terms

Non-Employee Stock Option (right to buy) financial

"security_title: "Non-Employee Stock Option (right to buy)""

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

derivative financial

"transaction_type: "derivative" for option transactions"

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

exercise price financial

"conversion_or_exercise_price fields such as "197.8000" and "242.5800""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"footnote: "25% per year for four years." describing vesting"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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

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Accepted by SEC EDGAR 07/01/2026 - 05:05 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^*

Tomlinson Percy C Jr

(Last) (First) (Middle)

605 HIGHWAY 169 N, SUITE 400

(Street)

MINNEAPOLIS MINNESOTA 55441

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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

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

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

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
Common Stock	07/01/2026		M		3,500	A	$242.58	4,300	D
Common Stock	07/01/2026		M		200	A	$197.8	4,500	D

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)	$242.58	07/01/2026		M			3,500	12/14/2022(1)	12/14/2031	Common Stock	5,400	$242.58	1,900	D
Non-Employee Stock Option (right to buy)	$197.8	07/01/2026		M			200	06/01/2023(1)	06/01/2032	Common Stock	220	$197.8	20	D
Non-Employee Stock Option (right to buy)	$238.6							12/12/2023(1)	12/12/2032	Common Stock	620		620	D
Non-Employee Stock Option (right to buy)	$325.99							06/01/2024(1)	06/01/2033	Common Stock	380		380	D
Non-Employee Stock Option (right to buy)	$446.68							12/11/2024(1)	12/11/2033	Common Stock	240		240	D
Non-Employee Stock Option (right to buy)	$355.9							06/01/2025(1)	06/01/2034	Common Stock	300		300	D
Non-Employee Stock Option (right to buy)	$400.97							12/09/2025(1)	12/09/2034	Common Stock	300		300	D
Non-Employee Stock Option (right to buy)	$424.82							06/01/2026(1)	06/01/2035	Common Stock	280		280	D
Non-Employee Stock Option (right to buy)	$444.54							12/15/2026(1)	12/15/2035	Common Stock	256		256	D
Non-Employee Stock Option (right to buy)	$378.57							06/01/2027(1)	06/01/2036	Common Stock	356		356	D

Explanation of Responses:

1. 25% per year for four years.

	/s/ Percy C. Tomlinson, Jr.	07/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)