Polaris Inc. — Director's Dealing 2014

May 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2014-05-19

Reporting Person: Eastman Stephen L. (VP - PG&A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-19	Common Stock	M	15000	$68.20	Acquired	21000	Direct
2014-05-19	Common Stock	S	10472	$128.74	Disposed	10528	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-19	Employee Stock Options (Right to Buy)	$68.20	M	15000	Disposed	2022-02-06	Common Stock (15000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	129.285	Indirect

Footnotes

F1: Estimate of the number of shares held in the reporting person's 401(k) fund as of May 19, 2014. This plan uses unit accounting and the number of shares that a participant is deemed to hold varies with the price of Polaris stock.