Polaris Inc. — Director's Dealing 2011

Mar 10, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2011-03-08

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-08	Common Stock	M	11000	$43.57	Acquired	22726	Direct
2011-03-08	Common Stock	S	11000	$80.00	Disposed	11726	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-08	Employee Stock Options (Right to Buy)	$43.57	M	11000	Disposed	2018-01-31	Common Stock (11000)	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.