GAUDETTE RENAE M. (Vice President of Franchising) sold 6.0% of their position (1.20K shares) of WINMARK CORP on the open market

Open‑market sale worth $500.5K — a moderate reduction. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 2 sales

GAUDETTE RENAE M.

Filed: 10/24/2025ACC: 0001761880-25-000004

InsiderGAUDETTE RENAE M.CIK 1761880

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IssuerWINMARK CORPCIK 908315

Officer· Vice President of Franchising

Since Dec 2018

-1.20K

Net shares

Net seller

$500.5K

Total sold

Open market trades

0B · 2S

Total transactions

2.50K acquired · 3.70K disposed

Non-Derivative Transactions3

Common Stock

Direct

M · Option Exercise

+2.50K

Price / share

$90.99

Trade value

$227.47K

% of position

14.2%

10/22/2025

17.56K→20.06K

Common Stock

Direct

S · Sale

−100.00

Price / share

$435.62

Trade value

$43.56K

% of position

0.5%

10/24/2025

20.06K→19.96K

Common Stock

Direct

S · Sale

−1.10K

Price / share

$415.43

Trade value

$456.97K

% of position

5.5%

10/24/2025

19.96K→18.86K

Total

Net shares

+1.30K

Net value

-$273.06K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	10/22/2025	M · Option Exercise	+2.50K	$90.99	$227.47K	14.2%	17.56K	20.06K
Common Stock Direct	10/24/2025	S · Sale	−100.00	$435.62	$43.56K	0.5%	20.06K	19.96K
Common Stock Direct	10/24/2025	S · Sale	−1.10K	$415.43	$456.97K	5.5%	19.96K	18.86K
Total			+1.30K		-$273.06K

Derivative Transactions1

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

2.50K shares

−2.50K

Strike price

90.99

Held after

0.00

Exercisable

—

10/22/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option (right to buy) Direct	Common Stock2.50K shares	10/22/2025	M · Option Exercise	−2.50K	90.99	—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)18

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

4.48K

Shares owned

4.48K

Exercise price

197.80

Expiration

—

Exercise window

—

Employee Stock Options (Right to Buy)

Direct

Underlying security

Common Stock

Underlying shares

2.52K

Shares owned

2.52K

Exercise price

238.60

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

3.50K

Shares owned

3.50K

Exercise price

183.87

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

176.20

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

134.25

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

156

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

164.84

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

325.99

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

1.45K

Shares owned

1.45K

Exercise price

424.82

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

1.58K

Shares owned

1.58K

Exercise price

400.97

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

143.20

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

98.25

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

122.50

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

3.50K

Shares owned

3.50K

Exercise price

195.82

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

3.50K

Shares owned

3.50K

Exercise price

261.32

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

125.50

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

1.74K

Shares owned

1.74K

Exercise price

355.90

Expiration

—

Exercise window

—

Employee Stock Option (right to buy)

Direct

Underlying security

Common Stock

Underlying shares

3.50K

Shares owned

3.50K

Exercise price

143.87

Expiration

—

Exercise window

—

Total

Underlying

49.77K

Owned

49.77K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Employee Stock Option (right to buy) Direct	Common Stock	197.80	—	—	4.48K	4.48K
Employee Stock Options (Right to Buy) Direct	Common Stock	238.60	—	—	2.52K	2.52K
Employee Stock Option (right to buy) Direct	Common Stock	183.87	—	—	3.50K	3.50K
Employee Stock Option (right to buy) Direct	Common Stock	176.20	—	—	3K	3K
Employee Stock Option (right to buy) Direct	Common Stock	134.25	—	—	2.50K	2.50K
Employee Stock Option (right to buy) Direct	Common Stock	156	—	—	3K	3K
Employee Stock Option (right to buy) Direct	Common Stock	164.84	—	—	3K	3K
Employee Stock Option (right to buy) Direct	Common Stock	325.99	—	—	2K	2K
Employee Stock Option (right to buy) Direct	Common Stock	424.82	—	—	1.45K	1.45K
Employee Stock Option (right to buy) Direct	Common Stock	400.97	—	—	1.58K	1.58K
Employee Stock Option (right to buy) Direct	Common Stock	143.20	—	—	3K	3K
Employee Stock Option (right to buy) Direct	Common Stock	98.25	—	—	2.50K	2.50K
Employee Stock Option (right to buy) Direct	Common Stock	122.50	—	—	2.50K	2.50K
Employee Stock Option (right to buy) Direct	Common Stock	195.82	—	—	3.50K	3.50K
Employee Stock Option (right to buy) Direct	Common Stock	261.32	—	—	3.50K	3.50K
Employee Stock Option (right to buy) Direct	Common Stock	125.50	—	—	2.50K	2.50K
Employee Stock Option (right to buy) Direct	Common Stock	355.90	—	—	1.74K	1.74K
Employee Stock Option (right to buy) Direct	Common Stock	143.87	—	—	3.50K	3.50K
Total					49.77K	49.77K