Polaris Inc. — Director's Dealing 2012

Apr 27, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2012-04-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-25	Common Stock	M	4726	$14.2475	Acquired	10726	Direct
2012-04-25	Common Stock	S	2226	$80.3301	Disposed	8500	Direct
2012-04-25	Common Stock	G	2500	$0.00	Disposed	6000	Direct
2012-04-25	Common Stock	G	2500	$0.00	Acquired	29702	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-25	Employee Stock Options (Right to Buy)	$14.2475	M	4726	Disposed	2012-10-07	Common Stock (4726)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2520	Indirect
Common Stock	2520	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.