Winmark (WINA) CMO awarded 1,216 employee stock options at $444.54 per share

Rhea-AI Filing Summary

Winmark Corp reported an equity award to its chief marketing officer, Lisa S. Hake. On December 15, 2025, she acquired an employee stock option covering 1,216 shares of common stock at an exercise price of $444.54 per share. The option becomes exercisable starting December 15, 2026 and expires on December 15, 2035.

According to the vesting terms, the award vests in four equal installments of 25% per year over four years. After this grant, Hake beneficially owns 1,216 stock options, held directly. This type of award is a form of equity-based compensation that links a senior executive’s potential future gains to the company’s share price.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hake Lisa Schurke

Role CHIEF MARKETING OFFICER

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	1,216	$444.54	$541K

Holdings After Transaction: Employee Stock Option (right to buy) — 1,216 shares (Direct)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

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^*

Hake Lisa Schurke

(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)

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

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
Employee Stock Option (right to buy)	$444.54	12/15/2025		A		1,216		12/15/2026(1)	12/15/2035	Common Stock	1,216	$444.54	1,216	D

Explanation of Responses:

1. 25% per year for four years.

	/s/ Lisa S. Hake	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.

FAQ

What insider transaction did Winmark (WINA) report for December 15, 2025?

Winmark reported that chief marketing officer Lisa S. Hake acquired an employee stock option on December 15, 2025 covering common shares of the company.

How many stock options did Lisa S. Hake receive from Winmark (WINA)?

Lisa S. Hake received 1,216 employee stock options, each representing the right to buy one share of Winmark common stock.

What are the exercise price and expiration date of the new Winmark (WINA) options?

The options have an exercise price of $444.54 per share and an expiration date of December 15, 2035.

How do the new Winmark (WINA) stock options granted to Lisa S. Hake vest?

The options are scheduled to vest at 25% per year for four years, with the first exercisable date listed as December 15, 2026.

What is Lisa S. Hake’s ownership status for these Winmark (WINA) options after the grant?

After the transaction, Lisa S. Hake beneficially owns 1,216 derivative securities (stock options), held with direct ownership.

Is Lisa S. Hake a director or an officer of Winmark (WINA)?

She is reported as an officer of Winmark, serving as the company’s chief marketing officer.