Form 4: Winmark COO Renae Gaudette Reports Stock Option Grant
Insider Transaction Report
Winmark Corp's Chief Operating Officer, Renae M. Gaudette, reported the grant of 1,316 employee stock options with an exercise price of $444.54, effective December 15, 2025.
Summary
- Renae M. Gaudette, Chief Operating Officer of Winmark Corp (WINA), filed a Form 4 statement of changes in beneficial ownership.
- The filing reports a new grant of 1,316 employee stock options on December 15, 2025, with an exercise price of $444.54 per share.
- These newly granted options will become exercisable at a rate of 25% per year over four years, starting December 15, 2026, and will expire on December 15, 2035.
- Ms. Gaudette directly beneficially owns 18,860 shares of Winmark Corp Common Stock.
- Following this transaction, Ms. Gaudette beneficially owns a total of 51,584 employee stock options, including the new grant and previously issued options with various exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of an insider stock option grant, which is neutral in sentiment. It reflects standard executive compensation practices and does not contain information that would significantly alter the company's perceived value or outlook.
Positives
- The grant of 1,316 new employee stock options aligns the Chief Operating Officer's incentives with shareholder value creation.
- The accumulation of a significant number of stock options (51,584 total) by a key executive demonstrates continued commitment to the company's long-term performance.
Future Outlook
The filing indicates a future vesting schedule for the newly granted stock options, with 25% becoming exercisable annually over four years, starting December 15, 2026. This suggests a long-term incentive structure for the Chief Operating Officer.
Industry Context
This Form 4 filing is a routine disclosure of an insider transaction, specifically an equity grant to a key executive. Such grants are common practice across industries to align management incentives with long-term company performance and shareholder interests. It does not provide broader industry trends or competitive insights.
Comparison to Industry Standards
- The grant of stock options to a Chief Operating Officer is a standard component of executive compensation packages across publicly traded companies, aiming to incentivize long-term performance.
- The vesting schedule of 25% per year over four years is a common industry practice for equity awards, promoting executive retention and sustained focus on company growth.
Stakeholder Impact
- Shareholders: The grant of stock options to a key executive aligns management's interests with shareholder value creation, potentially leading to improved long-term performance.
- Employees: This filing pertains to executive compensation and does not directly impact the broader employee base, though it reflects the company's compensation philosophy for leadership.
Next Steps
- The newly granted stock options will begin to vest on December 15, 2026, at a rate of 25% per year for four years.
- The options will expire on December 15, 2035.
Key Dates
| Date | Description |
|---|---|
| 06/01/2017 | Grant date for 2,500 employee stock options with an exercise price of $98.25. |
| 12/12/2017 | Grant date for 2,500 employee stock options with an exercise price of $125.50. |
| 06/01/2018 | Grant date for 2,500 employee stock options with an exercise price of $122.50. |
| 12/11/2018 | Grant date for 2,500 employee stock options with an exercise price of $134.25. |
| 06/01/2019 | Grant date for 3,000 employee stock options with an exercise price of $143.20. |
| 12/11/2019 | Grant date for 3,000 employee stock options with an exercise price of $156.00. |
| 06/01/2020 | Grant date for 3,000 employee stock options with an exercise price of $164.84. |
| 12/16/2020 | Grant date for 3,000 employee stock options with an exercise price of $176.20. |
| 06/01/2021 | Grant date for 3,500 employee stock options with an exercise price of $143.87. |
| 12/14/2021 | Grant date for 3,500 employee stock options with an exercise price of $183.87. |
| 06/01/2022 | Grant date for 3,500 employee stock options with an exercise price of $195.82. |
| 12/13/2022 | Grant date for 3,500 employee stock options with an exercise price of $261.32. |
| 06/01/2023 | Grant date for 4,480 employee stock options with an exercise price of $197.80. |
| 12/12/2023 | Grant date for 2,520 employee stock options with an exercise price of $238.60. |
| 06/01/2024 | Grant date for 2,000 employee stock options with an exercise price of $325.99. |
| 06/01/2025 | Grant date for 1,740 employee stock options with an exercise price of $355.90. |
| 12/09/2025 | Grant date for 1,580 employee stock options with an exercise price of $400.97. |
| 12/15/2025 | Date of earliest transaction and filing date; grant date for 1,316 employee stock options with an exercise price of $444.54. |
| 06/01/2026 | Grant date for 1,448 employee stock options with an exercise price of $424.82; expiration date for 2,500 options granted on 06/01/2017. |
| 12/12/2026 | Expiration date for 2,500 options granted on 12/12/2017. |
| 12/15/2026 | First exercisable date (25%) for the 1,316 options granted on 12/15/2025. |
| 06/01/2027 | Expiration date for 2,500 options granted on 06/01/2018. |
| 12/11/2027 | Expiration date for 2,500 options granted on 12/11/2018. |
| 06/01/2028 | Expiration date for 3,000 options granted on 06/01/2019. |
| 12/11/2028 | Expiration date for 3,000 options granted on 12/11/2019. |
| 06/01/2029 | Expiration date for 3,000 options granted on 06/01/2020. |
| 12/16/2029 | Expiration date for 3,000 options granted on 12/16/2020. |
| 06/01/2030 | Expiration date for 3,500 options granted on 06/01/2021. |
| 12/14/2030 | Expiration date for 3,500 options granted on 12/14/2021. |
| 06/01/2031 | Expiration date for 3,500 options granted on 06/01/2022. |
| 12/13/2031 | Expiration date for 3,500 options granted on 12/13/2022. |
| 06/01/2032 | Expiration date for 4,480 options granted on 06/01/2023. |
| 12/12/2032 | Expiration date for 2,520 options granted on 12/12/2023. |
| 06/01/2033 | Expiration date for 2,000 options granted on 06/01/2024. |
| 06/01/2034 | Expiration date for 1,740 options granted on 06/01/2025. |
| 12/09/2034 | Expiration date for 1,580 options granted on 12/09/2025. |
| 12/15/2035 | Expiration date for the 1,316 options granted on 12/15/2025. |
Keywords
Winmark Corp, WINA, SEC Form 4, Insider Transaction, Stock Options, Employee Stock Option, Beneficial Ownership, Chief Operating Officer, Executive Compensation
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