Polaris (PII) director defers cash retainer into 639.85 stock equivalents

Rhea-AI Filing Summary

Bilicic George W reported acquisition or exercise transactions in this Form 4 filing.

Polaris Inc. director George W. Bilicic received a stock-based compensation award through the company’s deferred compensation plan. On this date, 639.85 Common Stock Equivalents (CSEs) tied to Polaris common stock at $54.70 per share were credited to his account instead of a quarterly cash retainer.

Each CSE may be settled in one share of Polaris common stock under the Deferred Compensation Plan for Directors. After this award and prior accruals, Bilicic’s direct holdings reported in this filing total 34,553.91 shares and equivalents, including CSEs and deferred stock units accumulated through the plan’s dividend reinvestment feature.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bilicic George W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	639.85	$54.70	$35K

Holdings After Transaction: Common Stock — 34,553.91 shares (Direct)

Footnotes (1)

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Key Figures

Common Stock Equivalents granted: 639.85 units Grant reference price: $54.70 per share Total direct holdings after transaction: 34,553.91 shares/equivalents +1 more

4 metrics

Common Stock Equivalents granted 639.85 units Credited under Deferred Compensation Plan for Directors

Grant reference price $54.70 per share Price per share associated with 639.85 CSEs

Total direct holdings after transaction 34,553.91 shares/equivalents Reported in column 5 following the award

Dividend-related CSEs and units 385.77 units Accumulated via dividend reinvestment feature of DC Plan

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 639.85 Common Stock Equivalents (CSEs), each of which may be settled in one share"

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

"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^*

Bilicic George W

(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		639.85	A	$54.7	34,553.91(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 639.85 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 639.85 newly acquired CSEs, and 385.77 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 insider transaction did Polaris (PII) director George W. Bilicic report?

George W. Bilicic reported receiving 639.85 Common Stock Equivalents as a compensation award. These were credited under Polaris’ Deferred Compensation Plan for Directors in connection with his election to defer a quarterly cash retainer payment into stock-linked units.

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

No. The Form 4 shows a grant of 639.85 Common Stock Equivalents as compensation, not an open-market purchase. The units were credited in lieu of a quarterly cash retainer under the Deferred Compensation Plan for Directors.

How many Polaris (PII) shares and equivalents does George W. Bilicic hold after this transaction?

After this transaction, Bilicic’s direct holdings total 34,553.91 shares and equivalents. This figure includes the 639.85 newly acquired Common Stock Equivalents plus previously accumulated CSEs and deferred stock units under the deferred compensation and dividend reinvestment features.

What are Common Stock Equivalents (CSEs) in the Polaris (PII) Form 4 filing?

Common Stock Equivalents are stock-linked units that may each be settled in one Polaris common share. In this filing, 639.85 CSEs were credited to the director’s deferred compensation account, reflecting his choice to defer cash retainer fees into equity-based units.

How were dividends handled for the Polaris (PII) deferred compensation units?

Dividends are handled through a dividend reinvestment feature in the Deferred Compensation Plan. The total reported holdings include 385.77 Common Stock Equivalents and deferred stock units that were acquired previously through this dividend reinvestment mechanism.