Polaris Inc. — Director's Dealing 2012

Oct 25, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2012-10-23

Reporting Person: Swenson Scott A. (VP-Small Vehicles)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-23	Common Stock	M	20000	$21.785	Acquired	49968	Direct
2012-10-23	Common Stock	M	12000	$22.33	Acquired	61968	Direct
2012-10-23	Common Stock	S	32000	$85.13	Disposed	29968	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-23	Employee Stock Options (Right to Buy)	$21.785	M	20000	Disposed	2018-01-31	Common Stock (20000)	Direct
2012-10-23	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	6058	Indirect

Footnotes

F1: Reflects the weighted average price of 32,000 shares of Common Stock sold by the reporting person in multiple transactions on October 23, 2012 with sale prices ranging from $84.99 to $85.425 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.