Polaris Inc. — Director's Dealing 2015

Jan 30, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2015-01-28

Reporting Person: Morgan Bennett J (President & COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-28	Employee Stock Option (Right to Buy)	$146.63	A	29000	Acquired	2025-01-28	Common Stock (29000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	106752	Direct
Common Stock	16415	Indirect
Common Stock	300	Indirect
Common Stock	190	Indirect
Common Stock	22664	Indirect
Common Stock	6051	Indirect

Footnotes

F1: 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.

F2: Estimate of the number of shares held in the reporting person's ESOP fund as of January 28, 2015. 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: The option vests in two equal installments on January 28, 2017 and January 28, 2019.