[SCHEDULE 13G/A] Polaris Inc. SEC Filing

Rhea-AI Filing Summary

BlackRock, Inc. has filed Amendment No. 12 to Schedule 13G reporting its beneficial ownership of Polaris Inc. (PII) common stock as of 30 June 2025. The filing reveals that BlackRock holds 6,341,438 shares, equal to 11.3 % of Polaris’ outstanding common shares. The asset manager exercises sole voting power over 6,200,509 shares and sole dispositive power over the full 6,341,438 shares, with no shared voting or dispositive authority. BlackRock classifies itself as a holding company (HC) and affirms that the shares are held in the ordinary course of business, not to influence control of the issuer. Various underlying clients may receive dividends or sale proceeds, yet no single client holds more than 5 % of the class. The document is signed by Managing Director Spencer Fleming on 2 July 2025. By remaining above the 5 % reporting threshold, BlackRock continues to rank as a significant institutional shareholder in Polaris.

Positive

• BlackRock owns 11.3 % of Polaris Inc. common shares (6.34 M shares), indicating substantial ongoing institutional ownership above the 5 % reporting threshold.

Negative

• None.

Insights

Portfolio Manager

TL;DR: BlackRock reports 11.3 % ownership in Polaris; disclosure is routine and signals continued institutional presence rather than a strategic shift.

The filing confirms that BlackRock still controls more than one-tenth of Polaris’ float, with 6.34 million shares under sole discretion. Because the shares are held in the ordinary course and without shared voting arrangements, the amendment does not point to activism or an intent to influence corporate governance. No purchase or sale data is provided, so investors cannot gauge recent trading activity or directional conviction. While high institutional ownership can bolster liquidity and market perception, the disclosure alone is neutral for valuation. I classify the impact as informational but not materially price-moving.

Corporate Governance Analyst

TL;DR: Routine 13G update: BlackRock holds 11.3 % with sole voting rights; no control intentions, governance impact minimal.

From a governance standpoint, Schedule 13G (rather than 13D) indicates passive intent. Sole voting and dispositive powers reside with BlackRock’s internal business units, but there is no stated plan to influence board composition or strategy. The amendment’s purpose is to keep ownership records current after exceeding the 5 % threshold, meeting SEC compliance. Because no governance initiatives or group formations are disclosed, I deem the filing non-impactful for control dynamics or shareholder proposals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 12)

Polaris Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

731068102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 731068102

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,200,509.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,341,438.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,341,438.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Polaris Inc.
(b)	Address of issuer's principal executive offices: 2100 HIGHWAY 55, NONE MEDINA MN 55340
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 731068102
Item 4.	Ownership
(a)	Amount beneficially owned: 6341438
(b)	Percent of class: 11.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6200509
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6341438
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Polaris Inc.. No one person's interest in the common stock of Polaris Inc. is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	07/02/2025

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What percentage of Polaris Inc. (PII) shares does BlackRock own according to the July 2025 Schedule 13G/A?

BlackRock reports beneficial ownership of 11.3 % of Polaris’ outstanding common stock.

How many Polaris shares are beneficially owned by BlackRock?

The filing lists 6,341,438 shares under BlackRock’s beneficial ownership.

Does BlackRock have shared voting power over Polaris shares?

No. BlackRock discloses 0 shared voting power; all 6.2 M voting shares are under sole authority.

Why did BlackRock file Amendment No. 12 to Schedule 13G?

To update its passive ownership disclosure after holding more than 5 % of Polaris stock, as required by SEC rules.

Who signed the Schedule 13G/A on behalf of BlackRock?

The document was signed by Spencer Fleming, Managing Director, on 2 July 2025.

What is BlackRock’s SEC classification in this filing?

BlackRock is classified as a Holding Company (HC) under Item 12 of the Schedule 13G.