Polaris Inc. — Director's Dealing 2016

Jan 29, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POLARIS INDUSTRIES INC/MN (PII)
CIK: 0000931015
Period of Report: 2016-01-27

Reporting Person: Morgan Bennett J (President & COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-27	Employee Stock Options (Right to Buy)	$70.18	A	57000	Acquired	2026-01-27	Common Stock (57000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	109955	Direct
Common Stock	16145	Indirect
Common Stock	480	Indirect
Common Stock	370	Indirect
Common Stock	180	Indirect
Common Stock	22664	Indirect
Common Stock	6193	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: 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.

F3: Estimate of the number of shares held in the reporting person's ESOP fund as of January 27, 2016. This plan uses unit accounting and the number of shares that a participant is deemed to hold varies with the price of Polaris stock.

F4: The option vests in two equal installments on January 27, 2018 and January 27, 2020.