Polaris Inc. — Director's Dealing 2010

Dec 9, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2010-12-07

Reporting Person: Dougherty Michael D. (V.P. Global New Market Devel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-07	Common Stock	M	5500	$46.66	Acquired	17226	Direct
2010-12-07	Common Stock	S	5500	$77.00	Disposed	11726	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-07	Employee Stock Options (Right to Buy)	$46.66	M	5500	Disposed	2017-01-29	Common Stock (5500)	Direct

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on October 21, 2010.