Polaris Inc. — Director's Dealing 2012

Oct 30, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2012-10-26

Reporting Person: Morgan Bennett J (President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-26	Common Stock	M	20000	$9.90	Acquired	127247	Direct
2012-10-26	Common Stock	M	11623	$22.455	Acquired	138870	Direct
2012-10-26	Common Stock	S	31623	$84.5044	Disposed	107247	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-26	Employee Stock Option (Right to Buy)	$9.90	M	20000	Disposed	2019-02-02	Common Stock (20000)	Direct
2012-10-26	Employee Stock Option (Right to Buy)	$22.455	M	11623	Disposed	2015-11-01	Common Stock (11623)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40876	Indirect
Common Stock	6296	Indirect

Footnotes

F1: Reflects the weighted average price of 31,623 shares of Common Stock sold by the reporting person in multiple transactions on October 26, 2012 with sale prices ranging from $84.50 to $84.60 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.