Ishaug Anthony D 4

What Happened
Anthony D. Ishaug, Chief Financial Officer of Winmark Corp (WINA), exercised options to acquire 3,293 shares at an exercise price of $98.25 per share, representing $323,537 in underlying value. The Form 4 also reports a simultaneous disposition of derivative securities for the same number of shares and dollar amount.

Key Details

• Transaction date: 2026-04-30
• Exercise details: 3,293 shares exercised at $98.25 per share (total $323,537)
• Disposition: Same number (3,293) and dollar amount shown as disposed (derivative) on the same date
• Shares owned after transaction: Not disclosed in the filing
• Footnote: F1 — "25% per year for four years." (noted in the filing)
• Filing timeliness: Report filed with the SEC on 2026-04-30 (no late filing indicated)

Context
The filing shows both an exercise (code M) and a concurrent disposition of derivative securities for the same shares and amount — a pattern commonly seen when options are exercised and the resulting shares are immediately sold or transferred (e.g., cashless exercise or sale-to-cover). The filing is factual and does not state the insider’s purpose for the transactions.