<SEC-DOCUMENT>0001157523-22-000190.txt : 20220214
<SEC-HEADER>0001157523-22-000190.hdr.sgml : 20220214
<ACCEPTANCE-DATETIME>20220211204527
ACCESSION NUMBER:		0001157523-22-000190
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220214
DATE AS OF CHANGE:		20220211

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Polaris Inc.
		CENTRAL INDEX KEY:			0000931015
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790]
		IRS NUMBER:				411790959
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-43419
		FILM NUMBER:		22624114

	BUSINESS ADDRESS:	
		STREET 1:		2100 HIGHWAY 55
		CITY:			MEDINA
		STATE:			MN
		ZIP:			55340
		BUSINESS PHONE:		(763) 542-0500

	MAIL ADDRESS:	
		STREET 1:		2100 HIGHWAY 55
		STREET 2:		NONE
		CITY:			MEDINA
		STATE:			MN
		ZIP:			55340

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	POLARIS INDUSTRIES INC/MN
		DATE OF NAME CHANGE:	19941004

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Polaris Inc.
		CENTRAL INDEX KEY:			0000931015
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790]
		IRS NUMBER:				411790959
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		2100 HIGHWAY 55
		CITY:			MEDINA
		STATE:			MN
		ZIP:			55340
		BUSINESS PHONE:		(763) 542-0500

	MAIL ADDRESS:	
		STREET 1:		2100 HIGHWAY 55
		STREET 2:		NONE
		CITY:			MEDINA
		STATE:			MN
		ZIP:			55340

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	POLARIS INDUSTRIES INC/MN
		DATE OF NAME CHANGE:	19941004
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>a52578432.htm
<DESCRIPTION>POLARIS INC. SCHEDULE 13G/A
<TEXT>
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      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">Washington, D.C.&#160; 20549</div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;"> <br>
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          <td style="width: 14.88%; vertical-align: top;">&#160;</td>
          <td style="width: 69.99%; vertical-align: top;">&#160;</td>
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            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold; font-size: 16pt;">SCHEDULE 13G</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Rule 13d-102)</div>
            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Information to be Included in Statements Filed Pursuant to &#167;&#160;240.13d-1(b), (c) and (d) and Amendments Thereto Filed Pursuant to &#167;&#160;240.13d-2.</div>
            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Under the Securities Exchange Act of 1934</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Amendment No. 8)*</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold; font-size: 16pt;">POLARIS INC.</div>
          </td>
          <td style="width: 15.13%; vertical-align: top;">&#160;</td>
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          <td style="width: 14.88%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); text-align: center;">&#160;</td>
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            <div style="text-align: center;">(Name of Issuer)</div>
            <div style="text-align: center;"> <br>
            </div>
            <div style="text-align: center; font-weight: bold;">Common stock, $0.01 par value</div>
          </td>
          <td style="width: 15.13%; vertical-align: top; border-top: #000000 2px solid;">&#160;</td>
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          <td style="width: 14.88%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <div style="text-align: center;">(Title of Class of Securities)</div>
            <div style="text-align: center;"> <br>
            </div>
            <div style="text-align: center;">731068102</div>
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          <td style="width: 15.13%; vertical-align: top; border-top: #000000 2px solid;">&#160;</td>
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        <tr>
          <td style="width: 14.88%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 69.99%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; text-align: center;">
            <div>(CUSIP Number)</div>
            <div> <br>
            </div>
          </td>
          <td style="width: 15.13%; vertical-align: top; border-top: #000000 2px solid;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 14.88%; vertical-align: top;">&#160;</td>
          <td style="width: 69.99%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">December 31, 2021</div>
            <div>&#160;</div>
          </td>
          <td style="width: 15.13%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="width: 100%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">(Date of Event Which Requires Filing of This Statement)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">&#9746; Rule 13d-1(b)</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">&#9744; Rule 13d-1(c)</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">&#9744; Rule 13d-1(d)</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 18.7pt;">*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
      containing information which would alter the disclosures provided in a prior cover page.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 18.7pt;">The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to
      the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>
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            <div><font style="font-weight: bold;">CUSIP No.</font><font style="text-indent: 0px; font-size: 5.14pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-weight: bold;">731068102</font></div>
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            <div style="text-indent: 82.85pt; font-weight: bold;">13G</div>
          </td>
          <td style="width: 33.94%; vertical-align: top;">&#160;</td>
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    <div><br>
    </div>
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          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">1</div>
          </td>
          <td style="width: 77%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div>Names of Reporting Persons</div>
            <div>&#160;</div>
            <div>Polaris Industries Inc. Employee Stock Ownership Plan</div>
            <div>&#160;</div>
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          <td style="width: 15%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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            <div style="text-align: center; font-weight: bold;">2</div>
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            <div>Check the Appropriate Box if a Member of a Group*</div>
            <div> <br>
            </div>
            <div>(See Instructions)</div>
            <br>
          </td>
          <td style="width: 15%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="1">
            <div>(a)&#160; &#9744;</div>
            <div> <br>
            </div>
            <div> (b)&#160; &#9744; </div>
            <div> <br>
            </div>
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        </tr>
        <tr>
          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">3</div>
          </td>
          <td style="width: 77%; vertical-align: top; background-color: rgb(230, 230, 230); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div>SEC Use Only</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: top; background-color: rgb(230, 230, 230); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">4</div>
          </td>
          <td style="width: 77%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div>Citizenship or Place of Organization</div>
            <div>&#160;</div>
            <div>Minnesota</div>
            <div>&#160;</div>
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          <td style="width: 15%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td rowspan="4" style="width: 29.92%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>
              <div>
                <div> <br>
                </div>
                <div> <br>
                </div>
                <div style="text-align: center;">Number of</div>
                <div style="text-align: center;">Shares</div>
                <div style="text-align: center;">Beneficially</div>
                <div style="text-align: center;">Owned by</div>
                <div style="text-align: center;">Each</div>
                <div style="text-align: center;">Reporting</div>
                <div style="text-align: center;">Person</div>
                <div style="text-align: center;">With:</div>
              </div>
            </div>
          </td>
          <td style="width: 9.1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">5</div>
          </td>
          <td style="width: 60.98%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Sole Voting Power</div>
            <div>&#160;</div>
            <div>0</div>
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        <tr>
          <td style="width: 22.16%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">6</div>
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          <td style="width: 9.1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Shared Voting Power</div>
            <div>&#160;</div>
            <div>2,998,705.49</div>
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          <td style="width: 22.16%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">7</div>
          </td>
          <td style="width: 9.1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Sole Dispositive Power</div>
            <div>&#160;</div>
            <div>0</div>
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        <tr>
          <td style="width: 22.16%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">8</div>
          </td>
          <td style="width: 9.1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Shared Dispositive Power</div>
            <div>&#160;</div>
            <div>2,998,705.49</div>
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        </tr>
        <tr>
          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">9</div>
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            <div>Aggregate Amount Beneficially Owned by Each Reporting Person</div>
            <div>&#160;</div>
            <div>2,998,705.49</div>
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        <tr>
          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">10</div>
          </td>
          <td colspan="2" style="width: 92.24%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Check if the Aggregate Amount in Row (9) Excludes Certain Shares*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#9744;</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">11</div>
          </td>
          <td colspan="2" style="width: 92.24%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid;">
            <div>Percent of Class Represented by Amount in Row 9</div>
            <div>&#160;</div>
            <div>5.0%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 7.76%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">12</div>
          </td>
          <td colspan="2" style="width: 92.24%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>Type of Reporting Person (<font style="font-style: italic;">See</font> Instructions)</div>
            <div>&#160;</div>
            <div>EP</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zaa9f64bcf25a42c18c28daa16b594ede">

          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">Item 1.</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 89%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font></td>
            <td rowspan="1" style="width: 89%; vertical-align: top;"><font style="font-family: 'Times New Roman', Times, serif;">Name of Issuer:</font></td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 89%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 89%; vertical-align: top;">Polaris Inc.</td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 89%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font></td>
            <td rowspan="1" style="width: 89%; vertical-align: top;"><font style="font-family: 'Times New Roman', Times, serif;">Address of Issuer's Principal Executive Offices:</font></td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 89%; vertical-align: top;">2100 Highway 55<font style="font-family: 'Times New Roman', Times, serif;"><br>
              </font></td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 89%; vertical-align: top;"><br>
            </td>
          </tr>
          <tr>
            <td rowspan="1" colspan="1" style="width: 7.22%; vertical-align: top; font-weight: bold;">&#160;</td>
            <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
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            </td>
            <td style="width: 89%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Name of Person Filing:</div>
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            <td style="width: 89%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Polaris Industries Inc. Employee Stock Ownership Plan (&#8220;ESOP&#8221;)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
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          <tr>
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            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 89%; vertical-align: top;">&#160;</td>
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          <tr>
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              <div style="font-family: 'Times New Roman', Times, serif;">c/o Polaris Industries Inc. Employee Stock Ownership Plan Committee </div>
              <div style="font-family: 'Times New Roman', Times, serif;">2100 Highway 55</div>
              <div style="font-family: 'Times New Roman', Times, serif;">Medina, MN 55340</div>
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            <td style="width: 89%; vertical-align: top;">&#160;</td>
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              <div style="font-family: 'Times New Roman', Times, serif;">(c)</div>
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          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
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            <td style="width: 89%; vertical-align: top;">&#160;</td>
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          <tr>
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            <td style="width: 89%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Minnesota</div>
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          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 89%; vertical-align: top;">&#160;</td>
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              <div style="font-family: 'Times New Roman', Times, serif;">Title of Class of Securities:</div>
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          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 89%; vertical-align: top;">&#160;</td>
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          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
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            <td style="width: 89%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Common Stock, par value $0.01 per share</div>
            </td>
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          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 89%; vertical-align: top;">&#160;</td>
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          <tr>
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            <td style="width: 4%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(e)</div>
            </td>
            <td style="width: 89%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">CUSIP Number:</div>
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          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 89%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" style="width: 7.22%; vertical-align: top;">&#160;</td>
            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 89%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">731068102</div>
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        <tr>
          <td style="width: 45pt; vertical-align: top; align: right; font-weight: bold;">Item 3.</td>
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            <div style="font-weight: bold;">If this statement is filed pursuant to &#167;&#167;&#160;240.13d&#8209;1(b), or &#167;&#167; 240.13d&#8209;2(b) or (c), check whether the person filing is a:</div>
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    <div><br>
    </div>
    <div>
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            <tr>
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    <div><br>
    </div>
    <div>
      <div>
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            <tr>
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              <td style="width: 18pt; vertical-align: top; align: right;">(b)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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              <td style="width: auto; vertical-align: top;">Bank as defined in section 3(a)(6) of the Act.</td>
            </tr>

        </table>
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    </div>
    <div><br>
    </div>
    <div>
      <div>
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            <tr>
              <td style="width: 45pt;"><br>
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              <td style="width: 18pt; vertical-align: top; align: right;">(c)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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              <td style="width: auto; vertical-align: top;">Insurance company as defined in section&#160;3(a)(19) of the Act.</td>
            </tr>

        </table>
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    <div><br>
    </div>
    <div><br>
      <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
      <div style="text-align: justify; text-indent: -9pt; margin-left: 9pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> The Trustee of the Polaris Industries Inc. Employee Stock Ownership Plan is Fidelity Management Trust Company.&#160; The ESOP allows plan participants to direct voting of
        shares allocated to their plan accounts, and all shares held by the ESOP and reported on this Schedule are allocated to plan participant accounts.&#160; Under the ESOP as in effect on December 31, 2021 and the applicable trust agreement, the Trustee is
        to vote shares with respect to which no voting instructions are received from plan participants in&#160;proportion with&#160;the voting instructions actually&#160;received by the Trustee from participants who give voting instructions. The ESOP also specifies that
        all investments of plan assets in Polaris common stock are to be made by the Trustee only upon direction of the ESOP Committee. Although the Trustee may theoretically be deemed to share, at least temporarily, voting and dispositive power as to all
        shares reported on this Schedule, the Trustee disclaims beneficial ownership of the shares held by it in its capacity as Trustee of the ESOP.</div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z64b377e6996645cea82dbf03eeb4b50c">

            <tr>
              <td style="width: 45pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">(d)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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              <td style="width: auto; vertical-align: top;">Investment company registered under Section 8 of the Investment Company Act of 1940.</td>
            </tr>

        </table>
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    <div><br>
    </div>
    <div>
      <div>
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            <tr>
              <td style="width: 45pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;">(e)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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              <td style="width: auto; vertical-align: top;">An investment adviser in accordance with &#167;&#160;240.13d-1(b)(1)(ii)(E).</td>
            </tr>

        </table>
      </div>
    </div>
    <div><br>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zecebfaffe1a5422d8e23ed93cbd60485">

            <tr>
              <td style="width: 45pt;"><br>
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              <td style="width: 18pt; vertical-align: top; align: right;">(f)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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              <td style="width: auto; vertical-align: top;">An employee benefit plan or endowment fund in accordance with &#167;&#160;240.13d&#8209;1(b)(1)(ii)(F).</td>
            </tr>

        </table>
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    <div><br>
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            <tr>
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              <td style="width: 18pt; vertical-align: top; align: right;">(g)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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            </tr>

        </table>
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    </div>
    <div><br>
    </div>
    <div>
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            <tr>
              <td style="width: 45pt;"><br>
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            </tr>

        </table>
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    <div><br>
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    <div>
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            <tr>
              <td style="width: 45pt;"><br>
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              <td style="width: 18pt; vertical-align: top; align: right;">(i)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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            </tr>

        </table>
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    <div><br>
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    <div>
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            <tr>
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            </tr>

        </table>
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    </div>
    <div><br>
    </div>
    <div>
      <div>
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            <tr>
              <td style="width: 45pt;"><br>
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              <td style="width: 18pt; vertical-align: top; align: right;">(k)<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;</font></td>
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            </tr>

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    <div><br>
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    <div style="text-indent: 0pt; margin-left: 45pt;">If filing as a non-U.S. institution in accordance with &#167;&#160;240.13d&#8209;1(b)(1)(ii)(J), please specify the type of institution:<font style="text-indent: 0px; font-size: 6pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;</font></div>
    <div><br>
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    <div><font style="font-weight: bold;">Item 4.</font><font style="text-indent: 0px; font-size: 5pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-weight: bold;">Ownership.</font></div>
    <div><br>
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          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(a)</div>
            </td>
            <td style="width: 85%; vertical-align: top;">Amount beneficially owned:<font style="font-family: 'Times New Roman', Times, serif;">&#160;&#160; 2,998,705.49</font></td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 85%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(b)</div>
            </td>
            <td style="width: 85%; vertical-align: top;">Percent of class:&#160;&#160; 5.0%</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 85%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(c)</div>
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            <td style="width: 85%; vertical-align: top;">Number of shares as to which such person has:</td>
          </tr>

      </table>
      <div><br>
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            <td style="width: 13%; vertical-align: top;">&#160;</td>
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              <div style="font-family: 'Times New Roman', Times, serif;">(i)</div>
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            <td style="width: 82%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Sole power to vote or to direct the vote:&#160;&#160; None</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 82%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(ii)</div>
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              <div style="font-family: 'Times New Roman', Times, serif;">Shared power to vote or to direct the vote:&#160;&#160; 2,998,705.49</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 82%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(iii)</div>
            </td>
            <td style="width: 82%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Sole power to dispose or to direct the disposition of:&#160;&#160; None</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 82%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">(iv)</div>
            </td>
            <td style="width: 82%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Shared power to dispose or to direct the disposition of:&#160;&#160; 2,998,705.49</div>
            </td>
          </tr>

      </table>
      <br>
      <font style="font-weight: bold;"></font></div>
    <div><font style="font-weight: bold;">Item 5.</font><font style="text-indent: 0px; font-size: 5pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-weight: bold;">Ownership of Five Percent or Less of a Class.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 45pt;">If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following &#9744;.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><font style="font-weight: bold;"> <br>
      </font></div>
    <div><br>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zca6e4a1d7ce949f5bf378e7ddb5d53f2">

          <tr>
            <td style="width: 10.16%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 6.</div>
            </td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ownership of More than Five Percent on Behalf of Another Person.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">The participants in and beneficiaries of the ESOP have the right to receive dividends from and the proceeds from the sale of the shares of Polaris common stock
                reported on this Schedule. No person has such a right with respect to more than 5% of Polaris&#8217; outstanding common stock.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 7.</div>
            </td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Not applicable.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 8.</div>
            </td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Identification and Classification of Members of the Group.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Not applicable.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 9.</div>
            </td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notice of Dissolution of Group.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Not applicable.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">&#160;</td>
            <td style="width: 89.84%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.16%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 10.</div>
            </td>
            <td style="width: 89.84%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Certifications.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><font style="font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 45pt;">By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and 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 &#167;240.14a-11.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div style="text-indent: 45pt;">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.</div>
    <div><br>
    </div>
    <div>Date:<font style="text-indent: 0px; font-size: 5pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160; </font>January 26, 2022</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: separate; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" colspan="3" style="width: 38%; font-weight: bold;">POLARIS INDUSTRIES INC. EMPLOYEE STOCK &#160;</td>
          </tr>
          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" colspan="2" style="width: 38%; font-weight: bold;">OWNERSHIP PLAN</td>
            <td valign="top" rowspan="1" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" colspan="2" style="width: 38%;">&#160;</td>
            <td valign="top" rowspan="1" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" colspan="3" style="width: 38%;">By: Polaris Industries Inc. Employee Stock Ownership</td>
          </tr>
          <tr>
            <td valign="top" rowspan="1" style="width: 50%;">&#160;</td>
            <td valign="top" rowspan="1" colspan="3" style="width: 38%;">Plan Committee, as Plan Administrator&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;"><br>
            </td>
            <td valign="top" style="width: 3%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 35%; border-bottom: #000000 2px solid">/s/ Gary E. Hendrickson</td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 35%;">Gary E. Hendrickson</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">Committee Chairman</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="text-align: right;"><br>
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