Polaris Inc. — Director's Dealing 2012

Oct 23, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2012-10-22

Reporting Person: Dougherty Michael D. (VP-Asia Pac & Latin America)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-22	Common Stock	M	2324	$21.5075	Acquired	8324	Direct
2012-10-22	Common Stock	G	2324	$0.00	Disposed	6000	Direct
2012-10-22	Common Stock	G	2324	$0.00	Acquired	32026	Indirect
2012-10-22	Common Stock	M	6500	$29.725	Acquired	12500	Direct
2012-10-22	Common Stock	S	6500	$86.3717	Disposed	6000	Direct
2012-10-22	Common Stock	M	12000	$22.33	Acquired	18000	Direct
2012-10-22	Common Stock	S	12000	$86.3717	Disposed	6000	Direct
2012-10-22	Common Stock	S	1250	$86.449	Disposed	1270	Indirect
2012-10-22	Common Stock	S	1250	$86.449	Disposed	1270	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-22	Employee Stock Options (Right to Buy)	$21.5075	M	2324	Disposed	2013-11-03	Common Stock (2324)	Direct
2012-10-22	Employee Stock Options (Right to Buy)	$29.725	M	6500	Disposed	2014-11-01	Common Stock (6500)	Direct
2012-10-22	Employee Stock Options (Right to Buy)	$22.33	M	12000	Disposed	2020-02-01	Common Stock (12000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4790	Indirect

Footnotes

F1: Shares held in a revocable trust of which the reporting person and his spouse are trustees, and the reporting person and his spouse, or other members of their family, are the beneficiaries.

F2: Shares held by son who shares reporting person's household. The reporting person disclaims beneficial ownership of the shares held by his son, and this report should not be deemed an admission that the reporting person is the beneficial owner of his son's shares for purposes of Section 16 or for any other purpose.

F3: Shares held by daughter who shares reporting person's household. The reporting person disclaims beneficial ownership of the shares held by his daughter, and this report should not be deemed an admission that the reporting person is the beneficial owner of his daughter's shares for purposes of Section 16 or for any other purpose.