Polaris Inc. — Director's Dealing 2013

Nov 20, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2013-11-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-11-18	Common Stock	M	10000	$38.46	Acquired	16000	Direct
2013-11-18	Common Stock	S	10000	$135.00	Disposed	6000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-11-18	Employee Stock Options (Right to Buy)	$38.46	M	10000	Disposed	2021-01-31	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	31510	Indirect
Common Stock	4639.945	Indirect
Common Stock	1440	Indirect
Common Stock	1440	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: Estimate of the number of shares held in the reporting person's ESOP fund as of November 18, 2013. This plan uses unit accounting and the number of shares that a participant is deemed to hold varies with the price of Polaris stock.

F3: 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.

F4: 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.