Stephen L. Eastman - Jul 28, 2023 Form 4 Insider Report for Polaris Inc. (PII)

Role: President - PG&A + Aftermarket
Signature: /s/ Sarah Maveus, as attorney-in-fact
Stock symbol: PII
Transactions as of: Jul 28, 2023
Transactions value $: -$101,500
Form type: 4
Date filed: 8/1/2023, 06:20 PM
Previous filing: Feb 3, 2023
Next filing: Jan 4, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PII	Common Stock	Options Exercise	$1.26M	+10K	+56.18%	$125.67	27.8K	Jul 28, 2023	Direct
transaction	PII	Common Stock	Sale	-$1.36M	-10K	-35.97%	$135.82	17.8K	Jul 28, 2023	Direct	F1
holding	PII	Common Stock						163	Jul 28, 2023	by 401(k) plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PII	Employee Stock Option (right to buy)	Options Exercise	$0	-10K	-100%	$0.00^*	0	Jul 28, 2023	Common Stock	10K	$125.67	Direct	F2
transaction	PII	Deferred Stock Units	Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities		-10K	-59.9%		6.69K	Aug 1, 2023	Common Stock	10K		Direct	F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects the weighted average price of 10,000 shares of Common Stock sold by the reporting person in multiple transactions on July 28, 2023 with sales prices ranging from $135.66 to $136.03 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.
F2	The option vests in two equal installments on January 29, 2016 and January 29, 2018.
F3	Each deferred stock unit represents the right to receive one share of the Issuer's common stock.
F4	At the settlement date elected by the reporting officer under the Issuer's Supplemental Executive Retirement Plan ("SERP"), the reporting officer is entitled to receive one share of common stock for each deferred stock unit held. The deferred stock units may be transferred into an alternative investment account in the SERP after a period of six months and one day.
F5	The reporting person transferred the value of 10,000 deferred stock units held under the SERP into another investment within the SERP, at a deemed price per unit of $133.66.