Welcome to our dedicated page for Winmark SEC filings (Ticker: WINA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Winmark Corporation filings document disclosures for a public resale franchisor with established franchise brands and a related leasing business. Recent Form 8-K reports cover operating results, financial condition, cash dividends, franchise-system metrics, system-wide sales, point-of-sale software fee matters and the Plato’s Closet North American Ad Fund.
The company’s regulatory record also includes governance and shareholder-vote disclosures. Proxy and annual-meeting filings address board composition, director elections, advisory executive-compensation votes, auditor ratification, stock option plan matters and committee assignments, while material-event reports record board changes and related equity awards.
Winmark Corporation reports steady growth for 2025, driven by its resale franchising model. Revenue rose to $86.1 million from $81.3 million, with royalties up 5.8% to $76.4 million as franchise retail sales and store count increased.
Net income grew to $41.7 million, with diluted EPS of $11.30. Selling, general and administrative expenses rose 13.7% to $28.4 million, mainly from higher compensation and a one-time software cost. The franchising segment contributed $52.1 million of operating income, while the runoff leasing segment added $2.5 million, largely from litigation settlement.
Winmark ended 2025 with 1,378 franchised stores and a 98% renewal rate on expiring franchises, underscoring franchise stability. Cash, cash equivalents and restricted cash totaled $10.5 million, against long-term debt of about $60 million. The company returned substantial capital, paying $49.1 million in dividends, including a $10.00 per share special dividend, and repurchasing 7,944 shares.
Winmark Corporation reported higher results for the year ended December 27, 2025. Net income rose to $41,654,100, or $11.30 per diluted share, compared with $39,954,200, or $10.89 per diluted share, in 2024. Revenue increased to $86,055,700 from $81,289,100, driven mainly by higher royalties and leasing income.
Fourth-quarter 2025 net income was $9,959,900 ($2.69 diluted EPS), up from $9,583,100 ($2.60 diluted EPS) a year earlier. Net cash provided by operating activities was $44,896,800, while dividends paid totaled $49,112,700. At December 27, 2025, Winmark had 1,378 franchises in operation and over 2,800 available territories.
Winmark Corp received an amended Schedule 13G/A from BlackRock, Inc., disclosing a significant passive ownership position in its common stock. BlackRock reports beneficial ownership of 432,141 shares of Winmark common stock, representing 12.1% of the outstanding class as of the reported date.
BlackRock has sole voting power over 427,630 shares and sole dispositive power over 432,141 shares, with no shared voting or dispositive power. The filing states the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Winmark.
Winmark Corporation declared a quarterly cash dividend of $0.96 per share, payable on March 2, 2026 to shareholders of record at the close of business on February 11, 2026. The company stated that any future dividends will remain subject to Board approval.
Winmark also reported system-wide sales of $1.7 billion for its fiscal year ended December 27, 2025, representing estimated revenue generated across all franchise locations. These updates were announced in conjunction with a press release and the company’s annual franchise conference.
AltraVue Capital, LLC has filed a Schedule 13G reporting beneficial ownership of 174,073 shares of Winmark Corp common stock, representing about 4.89% of the class as of 12/31/2025. AltraVue reports sole voting power over 114,972 shares and shared voting power over 59,101 shares, with sole dispositive power over all 174,073 shares and no shared dispositive power.
The firm certifies that these securities were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing control of Winmark, indicating a passive investment position rather than an activist stake.
Winmark Corp director Jenele C. Grassle reported insider activity involving the company’s common stock. On 12/15/2025, the director disposed of 2,500 shares of common stock. The filing also shows a new grant of 256 non-employee stock options (right to buy) with an exercise price of $444.54 per share, exercisable on 12/15/2026 and expiring on 12/15/2035, held directly. An explanatory note adds: “25% per year for four years.” The report lists additional previously granted non-employee stock options with various exercise prices and expiration dates that remain beneficially owned directly.
Winmark Corp director Gina De Caro Sprenger reported insider equity transactions. On December 15, 2025 she received 256 non-employee stock options to buy Winmark common stock at $444.54 per share. These options cover 256 shares of common stock, vest 25% per year for four years beginning December 15, 2026, and expire on December 15, 2035. The filing also shows a disposition of 250 shares of common stock and lists previously granted director stock options covering additional shares at exercise prices between $182.21 and $446.68 per share, all held directly.
Winmark Corp director Philip I. Smith reported receiving 256 non-employee stock options to purchase Winmark common stock at an exercise price of $444.54 per share on 12/15/2025. These options cover 256 shares, become exercisable beginning 12/15/2026, and expire on 12/15/2035, with vesting described as 25% per year for four years.
The report also lists previously granted non-employee stock options that remain directly owned, including a grant exercisable from 03/01/2024 until 03/01/2033 for 4,500 shares at an exercise price of $291.01 per share. All reported derivative holdings are shown as directly owned by the director.
Winmark Corp director Percy C. Tomlinson, Jr. reported insider transactions in company stock. On 12/15/2025, he disposed of 800 shares of common stock.
On the same date, he received a non-employee stock option covering 256 shares of common stock at an exercise price of $444.54 per share, exercisable beginning 12/15/2026 and expiring 12/15/2035. The option vests 25% per year for four years, and he also holds several earlier non-employee stock option grants with various exercise prices and expiration dates.
Winmark Corp director Amy C. Becker reported a new equity grant in the form of stock options. On 12/15/2025, she received a non-employee stock option for 256 shares of Winmark common stock with an exercise price of $444.54 per share. These options become exercisable starting on 12/15/2026 and have an expiration date of 12/15/2035.
A footnote explains that the option vests at a rate of 25% per year for four years, giving Becker a multi-year vesting schedule. The filing also lists several previously granted non-employee stock options with different exercise prices and expiration dates, all held in a direct ownership capacity.