[Form 4] Polaris Inc. Insider Trading Activity

Rhea-AI Filing Summary

Centene Corporation (CNC) Form 4 filing: Director Frederick H. Eppinger reported the acquisition of 463 shares of common stock on 06/30/2025 at a stated price of $0.00, indicating an equity award rather than an open-market purchase. Following the transaction, Eppinger directly owns 359,042.658 shares, which includes 5,965 restricted stock units (RSUs) subject to future vesting. No derivative securities transactions were reported. The filing was signed by attorney-in-fact Christopher A. Koster on 07/02/2025.

The transaction modestly increases the director’s stake by approximately 0.13%, providing incremental alignment with shareholder interests but does not represent a market-based purchase. No other insider transactions or material events were disclosed in this short-form filing.

Positive

• Director ownership increases, reinforcing alignment with shareholders through additional equity.
• Filing transparently discloses 5,965 RSUs still subject to vesting, clarifying future dilution.

Negative

• The 463-share award is immaterial (<0.13% of the director’s stake), offering limited signaling value.
• Shares were received at $0 cost, so the transaction does not reflect out-of-pocket insider buying.

Insights

Securities Analyst

TL;DR: Small equity award to director; negligible ownership change; limited market impact.

The Form 4 reflects a routine director stock award—463 shares—raising Frederick Eppinger’s direct holdings to roughly 359 K shares. Because the acquisition was priced at $0, it is compensation-related, not a cash purchase signalling conviction. The increase is immaterial (<0.15% of his stake) and should not influence valuation models or sentiment. I classify the disclosure as neutral for investors.

Corporate Governance Expert

TL;DR: Award boosts alignment, but small size limits governance significance.

Equity compensation continues to tie directors’ interests to shareholders. While an additional 463 shares marginally enhances alignment, the amount is trivial relative to existing ownership. No red flags appear: the award is clearly disclosed, includes 5,965 unvested RSUs, and no derivatives were involved. Governance impact is positive but minor.

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
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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).

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^*

Shotwell Gwynne

(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)
07/01/2025

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	07/01/2025		A		682.53	A	$44.87	23,717.46(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 682.53 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 682.53 newly acquired CSEs, and 367.46 CSEs and deferred stock units acquired pursuant to the dividend reinvestment feature of the DC Plan.

Remarks:

	/s/ Sarah Maveus, as attorney-in-fact	07/02/2025
	** 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

How many Centene (CNC) shares did Director Frederick Eppinger acquire?

He acquired 463 common shares on 06/30/2025.

What is the director’s total direct holding after the transaction?

Eppinger now directly owns 359,042.658 CNC shares, including unvested RSUs.

Was the acquisition an open-market purchase?

No. The shares were received at $0, indicating an equity award rather than a market purchase.

Are there any derivative securities involved in this Form 4?

None. The filing lists no derivative securities acquired or disposed of.

When was the Form 4 signed and filed?

The form was signed by attorney-in-fact Christopher A. Koster on 07/02/2025.