Mack Robert Paul 4

What Happened Mack Robert Paul, Polaris’ CFO and EVP — Finance & Corporate Development, received a stock award on January 28, 2026: 19,249 shares at $64.94 each (total value $1,250,030). The filing also shows 71,552 derivative units recorded as acquired at $0.00 (deferred stock units/right to receive shares). In addition, a series of small quarterly derivative conversions (about 22–24 shares each) dated between Sept 3, 2024 and Dec 1, 2025 were reported; those are related to distributions under Polaris’ Supplemental Executive Retirement Plan (SERP).

Key Details

• Major award: 19,249 shares @ $64.94 on 2026-01-28 — total reported value $1,250,030.
• Derivative units: 71,552 shares recorded as acquired at $0.00 on 2026-01-28 (reported as derivative/DSUs).
• Quarterly conversions: ~23 shares on each of 2024-09-03, 2024-12-02, 2025-03-03, 2025-06-02, 2025-09-02, 2025-12-01 — reported as exercises/conversions of derivatives.
• Footnotes: F1–F3 explain these small transactions are SERP deferred stock unit distributions (each DSU = right to one share) and were reported late due to an administrative error; DSUs may be transferred to an alternate investment account after 6 months + 1 day. F4 notes an option vests in three equal installments on Feb 9, 2027; Feb 8, 2028; and Feb 13, 2029.
• Filing timeliness: Period of report includes dates in 2024–2025 but the Form 4 was filed 2026-01-30; the filing indicates delayed reporting of SERP distributions.
• Shares owned after these transactions are not provided in the data shown here.

Context

• The 19,249-share entry is an award (A) and represents a meaningful equity grant (cash value shown). The 71,552 @ $0.00 entries and the small quarterly ~23-share entries are derivative/DSU-related — these reflect rights to receive shares under Polaris’ SERP rather than open-market purchases.
• Because the small quarterly distributions were reported late per the footnote, they likely reflect administrative timing rather than new trading activity; they do not, by themselves, indicate buying or selling in the open market.
• For retail investors, awards and grants increase an insider’s exposure to company equity but do not necessarily signal intent to buy/sell shares on the market.