FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Dougherty Michael D. 		2. Issuer Name and Ticker or Trading Symbol

POLARIS INDUSTRIES INC/MN [ PII ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
President-International
(Last)          (First)          (Middle)

2100 HIGHWAY 55 		3. Date of Earliest Transaction (MM/DD/YYYY)

6/8/2018
(Street)

MEDINA, MN 55340
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   4/30/2018     G   V 562   D $0.00   32376   I   by spouse's trust   (1)
Common Stock   4/30/2018     G   V 279   A $0.00   2713   I   by wife as UTMA custodian for son   (2)
Common Stock   4/30/2018     G   V 283   A $0.00   2741   I   by wife as UTMA custodian for daughter   (3)
Common Stock   6/7/2018     G   V 140   D $0.00   32236   I   by spouse's trust   (1)
Common Stock   6/8/2018     M    15000   A $65.57   21598   D    
Common Stock   6/8/2018     S    14900   D $125.60   (4) 6698   D    
Common Stock   6/8/2018     S    100   D $126.065   6598   D    
Common Stock                  4673   (5) I   by ESOP  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Employee Stock Options (right to buy)   $65.57   6/8/2018     M         15000      (6) 2/1/2022   Common Stock   15000   $0.00   0   D    

Explanation of Responses:
(1)  Shares held in a revocable trust of which the reporting person and his spouse are trustees, and the reporting person and his spouse, or other members of their family, are the beneficiaries.
(2)  Shares held by son who shares reporting person's household. The reporting person disclaims beneficial ownership of the shares held by his son, and this report should not be deemed an admission that the reporting person is the beneficial owner of his son's shares for purposes of Section 16 or for any other purpose.
(3)  Shares held by daughter who shares reporting person's household. The reporting person disclaims beneficial ownership of the shares held by his daughter, and this report should not be deemed an admission that the reporting person is the beneficial owner of his daughter's shares for purposes of Section 16 or for any other purpose.
(4)  Reflects the weighted average price of 14,900 shares of Common Stock sold by the reporting person in multiple transactions on June 8, 2018 with sale prices ranging from $125.05 to $125.795 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
(5)  Estimate of the number of shares held in the reporting person's ESOP fund as of June 8, 2018. This plan uses unit accounting and the number of shares that a participant is deemed to hold varies with the price of Polaris stock.
(6)  The option vested in two equal installments on February 1, 2014 and February 1, 2016.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Dougherty Michael D.
2100 HIGHWAY 55
MEDINA, MN 55340

President-International

Signatures
Jennifer Carbert, Attorney-in-Fact 6/12/2018
** 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 control number.
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