Companies Winmark
Winmark (WINA): executive pay, fiscal 2025
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CEO pay, last three years
- $1,618,639FY2023
- $1,832,143FY2024
- $2,108,124FY2025
CEO total pay was $2,108,124 in fiscal 2025, up from $1,832,143 in fiscal 2024.
FY2025: salary $700,000 · bonus $695,000 · stock awards $0 · option awards $699,963
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Brett Heffes | $700,000 | $695,000 | $0 | $699,963 | $0 | $0 | $13,161 | $2,108,124 |
| Chief Executive Officer and Chair of the Board of Directors | ||||||||
| Anthony Ishaug | 442,500 | 497,500 | 0 | 442,368 | 0 | 0 | 13,161 | 1,395,529 |
| Chief Financial Officer and Treasurer | ||||||||
| Renae Gaudette | 340,000 | 332,500 | 0 | 339,659 | 0 | 0 | 13,161 | 1,025,320 |
| Chief Operating Officer | ||||||||
| Lisa Hake | 78,750 | 125,000 | 0 | 157,119 | 0 | 0 | 65 | 360,934 |
| Chief Marketing Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Brett Heffes | $2,108,124 | $1,832,143 | $1,618,639 | ↑ +275,981 |
| Anthony Ishaug | 1,395,529 | 1,146,234 | 1,025,109 | ↑ +249,295 |
| Renae Gaudette | 1,025,320 | 892,621 | 788,321 | ↑ +132,699 |
| Lisa Hake | 360,934 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Winmark utilizes a simple compensation plan designed to attract, retain, and incentivize high-quality executive management by encouraging long-term investment in the business and recognizing current-year financial and operating performance. The plan relies on significant long-term equity ownership by NEOs, built over decades, to align interests with shareholders, while eschewing common features like employment contracts, severance agreements, and RSUs.
| CEO STI target (% of salary) | NaN% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Lisa Hake | OPTION | 2025-12-15 | — | — | 1,216 | — | $157,119 |
| Brett Heffes | OPTION | 2025-06-01 | — | — | 2,984 | — | 349,546 |
| Brett Heffes | OPTION | 2025-12-15 | — | — | 2,712 | — | 350,417 |
| Renae Gaudette | OPTION | 2025-06-01 | — | — | 1,448 | — | 169,619 |
| Renae Gaudette | OPTION | 2025-12-15 | — | — | 1,316 | — | 170,040 |
| Anthony Ishaug | OPTION | 2025-06-01 | — | — | 1,888 | — | 221,160 |
| Anthony Ishaug | OPTION | 2025-12-15 | — | — | 1,712 | — | 221,208 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Lisa Hake | $0 | $0 | $157,119 | 0.0% |
| Brett Heffes | 0 | 0 | 699,963 | 0.0% |
| Renae Gaudette | 0 | 0 | 339,659 | 0.0% |
| Anthony Ishaug | 0 | 0 | 442,368 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Renae Gaudette | Option | 630 | 238.6 | — |
| Anthony Ishaug | Option | 945 | 238.6 | — |
| Renae Gaudette | Option | 1,000 | 325.99 | — |
| Renae Gaudette | Option | 1,120 | 197.8 | — |
| Renae Gaudette | Option | 1,185 | 400.97 | — |
| Lisa Hake | Option | 1,216 | 444.54 | — |
| Anthony Ishaug | Option | 1,300 | 325.99 | — |
| Renae Gaudette | Option | 1,305 | 355.9 | — |
| Renae Gaudette | Option | 1,316 | 444.54 | — |
| Brett Heffes | Option | 1,435 | 238.6 | — |
| Renae Gaudette | Option | 1,448 | 424.82 | — |
| Anthony Ishaug | Option | 1,480 | 197.8 | — |
| Anthony Ishaug | Option | 1,545 | 400.97 | — |
| Anthony Ishaug | Option | 1,695 | 355.9 | — |
| Anthony Ishaug | Option | 1,712 | 444.54 | — |
| Anthony Ishaug | Option | 1,888 | 424.82 | — |
| Brett Heffes | Option | 2,060 | 325.99 | — |
| Brett Heffes | Option | 2,340 | 197.8 | — |
| Brett Heffes | Option | 2,445 | 400.97 | — |
| Brett Heffes | Option | 2,685 | 355.9 | — |
| Brett Heffes | Option | 2,712 | 444.54 | — |
| Brett Heffes | Option | 2,984 | 424.82 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Keith T. CredendinoIndependent · Audit · Newly elected | $21,555 | — | $348,558 | — | — | $370,113 |
| Percy C. Tomlinson JrIndependent · Audit (Chair) | 63,000 | — | 65,877 | — | — | 128,877 |
| Lawrence A. BarbettaIndependent · Audit | 58,000 | — | 65,877 | — | — | 123,877 |
| Philip I. SmithIndependent · Audit | 58,000 | — | 65,877 | — | — | 123,877 |
| Amy C. BeckerIndependent · Compensation (Chair) · Nominating/Governance | 52,000 | — | 65,877 | — | — | 117,877 |
| Jenele C. GrassleIndependent · Compensation | 52,000 | — | 65,877 | — | — | 117,877 |
| Gina D. SprengerIndependent · Compensation | 51,000 | — | 65,877 | — | — | 116,877 |
Board fee structure and ownership guideline
| Annual cash retainer | $45,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $1,000 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $355,555 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $355,555 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Winmark as a peer
Companies that benchmark against WINA
No companies currently name WINA as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | The RealReal, Inc. | 2025 | Jennifer Hyman | $750,000 | $8,465,261 | $0 | $3,330,688 | $12,576,367 |
| 2 | Academy Sports and Outdoors, Inc. | 2025 | Steve Lawrence | 1,080,288 | 6,999,998 | 0 | 1,438,155 | 9,560,129 |
| 3 | Sleep Number Corporation | 2025 | Linda Findley | 853,846 | 4,104,519 | 0 | 0 | 6,233,574 |
| 4 | Savers Value Village, Inc. | 2025 | Mark Walsh | 999,999 | 2,637,493 | 1,999,997 | 187,500 | 5,841,659 |
| 5 | Dine Brands Global, Inc. | 2025 | John Peyton | 1,000,000 | 2,213,577 | 0 | 2,158,500 | 5,417,315 |
| 6 | European Wax Center, Inc. | 2024 | David Berg | 311,539 | 499,993 | 3,180,743 | 118,423 | 4,413,602 |
| 7 | ThredUp, Inc. | 2025 | James Reinhart | 914,667 | 1,795,600 | 0 | 735,000 | 3,445,267 |
| 8 | Winmark | 2025 | Brett Heffes | 700,000 | 0 | 699,963 | 0 | 2,108,124 |
| 9 | The Children’s Place, Inc. | 2025 | Muhammad Umair | 650,000 | 1,025,225 | 0 | 0 | 1,715,000 |
| 10 | Urban Outfitters, Inc. | 2026 | Richard A. Hayne | 1 | 0 | 0 | 1,000,000 | 1,042,012 |
| 11 | Regis Corporation | 2026 | Susan Lintonsmith | 186,667 | 291,000 | 0 | 284,413 | 762,427 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Winmark | CEO: 99.3%, CFO: 95.5%, COO: 97.8%% | Option 100 | not disclosed | not disclosed |
| Academy Sports and Outdoors, Inc. | 75.7% | PSU 50 · RSU 50 | No | Frederic W. Cook & Co, Inc. (FW Cook) |
| Dine Brands Global, Inc. | 91.96% | not disclosed | No | Exequity |
| European Wax Center, Inc. | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| Regis Corporation | not disclosed | not disclosed | not disclosed | Pay Governance LLC |
| Savers Value Village, Inc. | not disclosed | Option 50 · RSU 50 | not disclosed | FW Cook |
| Sleep Number Corporation | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co., Inc. (FW Cook) |
| The Children’s Place, Inc. | not disclosed | RSU 40 · Deferred Cash Awards 30 · Performance Cash Awards 30 | not disclosed | Frederic W. Cook & Co. |
| The RealReal, Inc. | not disclosed | not disclosed | not disclosed | Compensia, Inc. and Willis Towers Watson |
| ThredUp, Inc. | 150% | RSU 100 | not disclosed | Compensia |
| Urban Outfitters, Inc. | 100% | PSU 50 · RSU 50 | No | Korn Ferry Hay Group |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-22 | 2,929,354 | 100,349 | 3,357 | 96.58% | Passed |
| 2025 | 2025-04-23 | 2,925,625 | 159,750 | 1,188 | 94.79% | Passed |
| 2024 | 2024-04-24 | 2,854,023 | 150,380 | 1,489 | 94.95% | Passed |
| 2023 | 2023-04-26 | 2,363,657 | 584,976 | 7,014 | 79.97% | Passed |
| 2022 | 2022-04-27 | 1,950,186 | 1,008,371 | 4,548 | 65.82% | Passed |
| 2021 | 2021-04-28 | 2,898,372 | 142,706 | 8,938 | 95.03% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-04-22 | 96.58%a |
| 2025 | 2025-04-23 | 94.79%b |
| 2024 | 2024-04-24 | 94.95%c |
a. Approved under the standard stated in the filing — “ Under applicable Minnesota law, approval of each of the proposals to be voted on at the meeting except the election of the nominees requires the affirmative vote of the holders of the greater of (i) a majority of the voting power of the shares represented in person or by proxy at the Annual Meeting with authority to vote on such matter or (ii) a majority of the voting power of the minimum number of shares that would constitute a quorum for the transaction of business at the Annual Meeting.”.
b. Approved under the standard stated in the filing — “ Under applicable Minnesota law, approval of each of the proposals to be voted on at the meeting except the election of the nominees requires the affirmative vote of the holders of the greater of (i) a majority of the voting power of the shares represented in person or by proxy at the Annual Meeting with authority to vote on such matter or (ii) a majority of the voting power of the minimum number of shares that would constitute a quorum for the transaction of business at the Annual Meeting.”.
c. Approved under the standard stated in the filing — “ Under applicable Minnesota law, approval of each of the proposals to be voted on at the meeting except the election of the nominees requires the affirmative vote of the holders of the greater of (i) a majority of the voting power of the shares represented in person or by proxy at the Annual Meeting with authority to vote on such matter or (ii) a majority of the voting power of the minimum number of shares that would constitute a quorum for the transaction of business at the Annual Meeting.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 21.9 : 1 |
|---|---|
| CEO total compensation | $2,108,124 |
| Median employee compensation | $96,130 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (36 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Brett Heffes. DEF 14A, filed 2026-03-04. Section “Executive Compensation”. As printed: 2,108,124. View filing ↗
- Section 01, Anthony Ishaug. DEF 14A, filed 2026-03-04. Section “Executive Compensation”. As printed: 1,395,529. View filing ↗
- Section 01, Renae Gaudette. DEF 14A, filed 2026-03-04. Section “Executive Compensation”. As printed: 1,025,320. View filing ↗
- Section 01, Lisa Hake. DEF 14A, filed 2026-03-04. Section “Executive Compensation”. As printed: 360,934. View filing ↗
- Section 03, Lisa Hake OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Brett Heffes OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Brett Heffes OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Renae Gaudette OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Renae Gaudette OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anthony Ishaug OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anthony Ishaug OPTION. DEF 14A, filed 2026-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-04. Section “CEO Pay Ratio”. As printed: 21.9 : 1. View filing ↗
- Section 08, Keith T. Credendino. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 370,113. View filing ↗
- Section 08, Percy C. Tomlinson Jr. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 128,877. View filing ↗
- Section 08, Lawrence A. Barbetta. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 123,877. View filing ↗
- Section 08, Philip I. Smith. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 123,877. View filing ↗
- Section 08, Amy C. Becker. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 117,877. View filing ↗
- Section 08, Jenele C. Grassle. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 117,877. View filing ↗
- Section 08, Gina D. Sprenger. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 116,877. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-04-22. Item 5.07 · say-on-pay result. As reported: 96.58% (votes for as printed: 2,929,354). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-04-23. Item 5.07 · say-on-pay result. As reported: 94.79% (votes for as printed: 2,925,625). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-04-24. Item 5.07 · say-on-pay result. As reported: 94.95% (votes for as printed: 2,854,023). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 355,555 + equity 0 + all other 0 = 355,555, summed across the director compensation table rows.
- The RealReal, Inc., Section 10b CEO total. DEF 14A, filed 2026-06-01. CEO total compensation as printed in The RealReal, Inc.'s own proxy. As printed: 12,576,367. View filing ↗
- Academy Sports and Outdoors, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Academy Sports and Outdoors, Inc.'s own proxy. As printed: 9,560,129. View filing ↗
- Sleep Number Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Sleep Number Corporation's own proxy. As printed: 6,233,574. View filing ↗
- Savers Value Village, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in Savers Value Village, Inc.'s own proxy. As printed: 5,841,659. View filing ↗
- Dine Brands Global, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Dine Brands Global, Inc.'s own proxy. As printed: 5,417,315. View filing ↗
- European Wax Center, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-18. CEO total compensation as printed in European Wax Center, Inc.'s own proxy. As printed: 4,413,602. View filing ↗
- ThredUp, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in ThredUp, Inc.'s own proxy. As printed: 3,445,267. View filing ↗
- Winmark (subject), Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in Winmark's own proxy. As printed: 2,108,124. View filing ↗
- The Children’s Place, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in The Children’s Place, Inc.'s own proxy. As printed: 1,715,000. View filing ↗
- Urban Outfitters, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Urban Outfitters, Inc.'s own proxy. As printed: 1,042,012. View filing ↗
- Regis Corporation, Section 10b CEO total. DEF 14A, filed 2026-09-17. CEO total compensation as printed in Regis Corporation's own proxy. As printed: 762,427. View filing ↗