Polaris (PII) director defers cash retainer into 651 stock equivalent units

Rhea-AI Filing Summary

Polaris Inc. director Gary E. Hendrickson reported an acquisition of common stock equivalents through a director compensation program. On this date, 651.28 Common Stock Equivalents were credited to his account at an equivalent price of $54.70 per share under the company’s Deferred Compensation Plan for Directors, reflecting his election to defer a quarterly cash retainer into equity-based units rather than cash. Following this award and prior accruals, his directly held balance under this plan increased to 56,562.17 common stock equivalents and deferred stock units, including amounts previously accumulated through the plan’s dividend reinvestment feature.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hendrickson Gary E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	651.28	$54.70	$36K

Holdings After Transaction: Common Stock — 56,562.17 shares (Direct)

Footnotes (1)

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Key Figures

Common Stock Equivalents granted: 651.28 units Reference price per unit: $54.70 per share Total units after transaction: 56,562.17 units +1 more

4 metrics

Common Stock Equivalents granted 651.28 units Credited under Deferred Compensation Plan for Directors

Reference price per unit $54.70 per share Used to calculate 651.28 Common Stock Equivalents

Total units after transaction 56,562.17 units Balance of CSEs and deferred stock units following transaction

Dividend reinvestment and prior units 657.16 units CSEs and deferred stock units from dividend reinvestment feature

Key Terms

Common Stock Equivalents (CSEs), Deferred Compensation Plan for Directors (DC Plan), dividend reinvestment feature, quarterly cash retainer payment

4 terms

Common Stock Equivalents (CSEs) financial

"The reported transaction involved the crediting of 651.28 Common Stock Equivalents (CSEs), each of which may be settled in one share of common stock"

Deferred Compensation Plan for Directors (DC Plan) financial

"to the reporting person's account under the Company's Deferred Compensation Plan for Directors (DC Plan)"

dividend reinvestment feature financial

"and deferred stock units acquired pursuant to the dividend reinvestment feature of the DC Plan"

quarterly cash retainer payment financial

"in connection with the reporting person's election to defer receipt of the reporting person's quarterly cash retainer payment"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hendrickson Gary E

(Last) (First) (Middle)

2100 HIGHWAY 55

(Street)

MEDINA MINNESOTA 55340

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Polaris Inc. [ PII ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/01/2026		A		651.28	A	$54.7	56,562.17(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported transaction involved the crediting of 651.28 Common Stock Equivalents (CSEs), each of which may be settled in one share of common stock, to the reporting person's account under the Company's Deferred Compensation Plan for Directors (DC Plan) in connection with the reporting person's election to defer receipt of the reporting person's quarterly cash retainer payment. The total reported in column 5 includes the 651.28 newly acquired CSEs, and 657.16 CSEs and deferred stock units acquired pursuant to the dividend reinvestment feature of the DC Plan.

Remarks:

	/s/ Sarah Maveus, as attorney-in-fact	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Polaris (PII) director Gary E. Hendrickson report in this Form 4?

He reported receiving 651.28 Common Stock Equivalents as a compensation-related award. These units were credited under Polaris’s Deferred Compensation Plan for Directors instead of taking his quarterly cash retainer in cash.

Was the Polaris (PII) Form 4 transaction an open-market stock purchase?

No, the transaction reflects a grant of common stock equivalents tied to deferred director compensation. It was not an open-market buy or sell but an award credited under the company’s director deferred compensation plan.

How many Polaris (PII) units did Gary Hendrickson receive in this transaction?

He received 651.28 Common Stock Equivalents. Each unit may be settled in one share of Polaris common stock under the terms of the Deferred Compensation Plan for Directors for his deferred quarterly cash retainer.

What is Gary Hendrickson’s total deferred Polaris (PII) equity position after this filing?

After this transaction, his directly held balance under the director deferred plan is 56,562.17 units. This includes the 651.28 newly credited equivalents plus earlier units and those accumulated via the plan’s dividend reinvestment feature.

At what reference price were the new Polaris (PII) stock equivalents credited?

The 651.28 Common Stock Equivalents were credited at $54.70 per share. This price is used to determine how many units correspond to the quarterly cash retainer that was deferred into equity.

What role does the dividend reinvestment feature play in Polaris (PII) director holdings?

Under the director deferred compensation plan, dividends on deferred amounts are reinvested into additional units. The filing notes 657.16 units from this dividend reinvestment and deferred stock units as part of Hendrickson’s total balance.