X0304 4 2012-02-14 0 0000931015 POLARIS INDUSTRIES INC/MN PII 0001418240 Jonikas Michael P. 2100 HIGHWAY 55 MEDINA MN 55340 0 1 0 0 V.P. On-Road,Sales & Marketing Common Stock 2012-02-14 4 M 0 12000 22.33 A 37006 D Common Stock 2012-02-14 4 S 0 12000 69.21 D 25006 D Common Stock 5048 I By ESOP Performance Restricted Stock Units 2012-02-14 4 A 0 5598 0.00 A 2015-03-15 Common Stock 5598 5598 D Employee Stock Options (Right to Buy) 22.33 2012-02-14 4 M 0 12000 0.00 D 2012-02-01 2020-02-01 Common Stock 12000 12000 D Amount has been adjusted pursuant to a two-for-one stock split effected on September 12, 2011. Reflects the weighted average price of 12,000 shares of Common Stock sold by the reporting person in multiple transactions on February 14, 2012 with sale prices ranging from $69.17 to $69.25 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. Each Performance Restricted Stock Unit (PRSU) represents a contingent right to receive one share of the Company's common stock. PRSUs are credited to the officer's account under the Company's 2007 Omnibus Incentive Plan (As Amended and Restated April 28, 2011). Some or all of the PRSUs may be earned to the degree certain financial performance criteria are met over the course of the performance period of January 1, 2012 to December 31, 2014. The officer is entitled to receive one share of common stock for each PRSU earned in early 2015 when financial results are certified for the performance period. Jennifer Carbert, Attorney-in-Fact 2012-02-16