[Form 4] Polaris Inc. Insider Trading Activity

Rhea-AI Filing Summary

George W. Bilicic, a director of Polaris Inc. (PII), was credited with 567.44 Common Stock Equivalents (CSEs) on 10/01/2025 under the companys Deferred Compensation Plan for Directors after electing to defer his quarterly cash retainer. The filing reports a transaction price of $61.68 and shows 32,719.7 shares beneficially owned following the credit, which includes 316.37 CSEs and deferred stock units from the DC Plans dividend reinvestment feature. The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

• 567.44 CSEs credited under the DC Plan, reflecting director participation in deferred compensation
• Beneficial ownership updated to 32,719.7 shares, providing transparency in insider holdings

Negative

• None.

Insights

Corporate Governance Analyst

Director deferred compensation converted to 567.44 CSEs on 10/01/2025.

The report documents a non-cash credit of 567.44 CSEs to the directors deferred compensation account following an election to defer a quarterly cash retainer, which is a routine compensation election rather than an open-market purchase or sale.

This transaction increases the directors reported beneficial ownership to 32,719.7 shares and includes 316.37 CSEs/deferred units from dividend reinvestment; these details clarify how the DC Plan aggregates deferred retainer and dividend credits.

Insider Transactions Specialist

Form 4 shows crediting of equity equivalents at a recorded price of $61.68.

The filing lists a transaction price of $61.68, indicating the valuation used for the credited CSEs on 10/01/2025. The entry is coded as an acquisition via plan crediting (Code V), not an open-market trade.

Signature by an attorney-in-fact on 10/02/2025 completes the Form 4 reporting requirement; no derivative securities or exercises are reported.

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

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

1. Name and Address of Reporting Person^*

Bilicic George W

(Last) (First) (Middle)

2100 HIGHWAY 55

(Street)

MEDINA MN 55340

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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

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

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

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	10/01/2025		A		567.44	A	$61.68	32,719.7(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 567.44 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 567.44 newly acquired CSEs, and 316.37 CSEs and deferred stock units acquired pursuant to the dividend reinvestment feature of the DC Plan.

Remarks:

	/s/ Sarah Maveus, as attorney-in-fact	10/02/2025
	** 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.

FAQ

What did Polaris director George W. Bilicic report on Form 4 (PII)?

He reported the crediting of 567.44 Common Stock Equivalents to his deferred compensation account on 10/01/2025.

How many shares does George W. Bilicic beneficially own after the transaction?

The Form 4 reports 32,719.7 shares beneficially owned following the credited CSEs and deferred units.

What price is listed for the credited CSEs in the Form 4?

The transaction lists a price of $61.68 for the credited Common Stock Equivalents.

Why were the CSEs credited to the directors account?

They were credited under the Companys Deferred Compensation Plan for Directors in connection with his election to defer receipt of the quarterly cash retainer.

Does the Form 4 report any option exercises or derivative transactions?

No. Table II for derivative securities shows no entries; only non-derivative CSE credits are reported.