Polaris Inc. — Director's Dealing 2011

Feb 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2011-01-31

Reporting Person: Wine Scott W. (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-31	Common Stock	A	30000	—	Acquired	87000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-31	Employee Stock Options (Right to Buy)	$76.92	A	65000	Acquired	2021-01-31	Common Stock (65000)	Direct

Footnotes

F1: Restricted shares granted; price is not applicable.

F2: The option vests in two equal installments on January 31, 2013 and January 31, 2015.