Polaris Inc. — Director's Dealing 2011

Mar 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2011-02-28

Reporting Person: Jonikas Michael P. (V.P. On-Road,Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-28	Common Stock	M	11773	$43.57	Acquired	22857	Direct
2011-02-28	Common Stock	M	10000	$19.80	Acquired	32857	Direct
2011-02-28	Common Stock	S	20354	$75.506	Disposed	12503	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-28	Employee Stock Options (Right to Buy)	$43.57	M	11773	Disposed	2018-01-31	Common Stock (11773)	Direct
2011-02-28	Employee Stock Options (Right to Buy)	$19.80	M	10000	Disposed	2019-02-02	Common Stock (10000)	Direct

Footnotes

F1: Reflects the weighted average price of 20,354 shares of Common Stock sold by the reporting person in multiple transactions on February 28, 2011 with sale prices ranging from $75.22 to $75.91 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.