Tomlinson Percy C Jr 4

What Happened

• Percy C. Tomlinson Jr., a director of Winmark Corp (WINA), exercised stock options on July 1, 2026. He exercised options for 3,500 shares at $242.58 (value reported $849,030) and 200 shares at $197.80 (value reported $39,560), for a combined transaction value of $888,590.
• The filing also shows simultaneous dispositions of the same 3,500 and 200 share amounts (reported as derivative dispositions). That pattern indicates the options were exercised (code M) and the resulting derivative shares were immediately disposed of — consistent with a cashless exercise or immediate sale/transfer rather than a long-term purchase.

Key Details

• Transaction date: 2026-07-01.
• Exercised: 3,500 shares @ $242.58 = $849,030; 200 shares @ $197.80 = $39,560. Total = $888,590.
• Disposed: same share counts and amounts listed as derivative disposals on the same date.
• Transaction code: M (option exercise). Disposals flagged as derivative.
• Shares owned after transaction: Not specified in the information provided in this filing.
• Footnote F1: "25% per year for four years." This suggests a four-year vesting or release schedule (25% vesting each year), as noted in the filing.
• Filing timing: Reported for the period 2026-07-01 (no late-filing indication provided).

Context

• For retail investors: an M-code exercise followed by immediate disposition typically means the insider exercised options and sold or transferred the acquired shares (often to cover exercise taxes/costs). This is generally routine and does not by itself indicate a bullish or bearish signal.
• The footnote indicates a vesting/release schedule tied to the transaction, which may affect how and when any remaining or related awards become available.