Speetzen Michael T 4

What Happened
Michael T. Speetzen, CEO of Polaris Inc. (PII), disposed of a total of 45,252 shares in connection with a restricted stock vesting and subsequent open-market sales. On Feb 10, 2026, 10,166 shares were withheld to satisfy tax withholding on a restricted stock award (value reported at $67.70/share, ~$688,238). On Feb 11, 2026, he sold 12,192 shares (weighted avg $66.54, ~$811,256) and 22,894 shares (weighted avg $66.98, ~$1,533,440) in multiple open-market transactions. Total proceeds reported across the transactions are about $3.03 million. These were sales (not purchases).

Key Details

• Transaction dates: Feb 10, 2026 (tax withholding on vesting) and Feb 11, 2026 (open-market sales). Filing date: Feb 12, 2026 (timely file).
• Prices and values:
  • 10,166 shares withheld @ $67.70 = $688,238 (F1: tax withholding on restricted stock vesting).
  • 12,192 shares sold @ weighted avg $66.54 = $811,256 (sales prices ranged $66.19–$66.66; reporting person can provide per-share breakdown) (F2).
  • 22,894 shares sold @ weighted avg $66.98 = $1,533,440 (sales prices ranged $66.665–$67.425; reporting person can provide per-share breakdown) (F3).
• Total shares disposed: 45,252; total proceeds ≈ $3,032,934. Open-market sales = 35,086 shares (~$2.34M).
• Shares owned after transaction: Not specified in this filing.
• Notable footnotes: F1 (shares withheld to satisfy tax withholding on vesting); F2/F3 (weighted averages with price ranges; per-price breakdown available on request); F4 (reporting person disclaims beneficial ownership of shares held by his daughter).
• Filing timeliness: Reported within required Form 4 window (not marked late).

Context

• The Feb 10 transaction was a net-share (withholding) tax settlement tied to the vesting of restricted stock—common for executive compensation and not the same as an intentional open-market sale for investment reasons.
• The Feb 11 transactions were open-market sales, which insiders routinely make for diversification or liquidity; filings are factual and do not state the insider’s motive.
• For investors, purchases by insiders generally carry more informational weight than routine tax-withholding or open-market sales; treat this activity as executive liquidity and tax-related settlement rather than an explicit signal about company fundamentals.