Polaris Inc. — Director's Dealing 2011

Dec 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2011-12-01

Reporting Person: Longren David C. (VP-ORV and ORV Engineering)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-01	Common Stock	M	4200	$13.0075	Acquired	34776	Direct
2011-12-01	Common Stock	S	4200	$60.8924	Disposed	30576	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-01	Employee Stock Options (Right to Buy)	$13.0075	M	4200	Disposed	2013-01-27	Common Stock (4200)	Direct

Footnotes

F1: Weighted average sale price.
Reflects the weighted average price of 4,200 shares of Common Stock sold by the reporting person in multiple transactions on December 1, 2011 with sale prices ranging from $60.85 to $60.99 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.