Lester Susan E Form 4 ARCTIC CAT / SUSAN E LESTER ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

LESTER SUSAN E

(Last) (First) (Middle)

21205 IRVING AVE S

(Street)

MINNEAPOLIS MN 55405

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ARCTIC CAT INC [ ACAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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	01/29/2016		P		3,000	A	$10.594	13,584(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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
Stock Option (Right to Buy)	$27.69							(2)	(3)	Common Stock	6,000		6,000	D
Stock Option (Right to Buy)	$21.96							(2)	(3)	Common Stock	6,000		6,000	D
Stock Option (Right to Buy)	$17.84							(2)	(3)	Common Stock	6,000		6,000	D
Stock Option (Right to Buy)	$9.57							(2)	08/07/2018	Common Stock	27		27	D
Stock Option (Right to Buy)	$6.26							(2)	08/06/2019	Common Stock	27		27	D
Stock Option (Right to Buy)	$10.79							(2)	04/01/2020	Common Stock	5,035		5,035	D
Stock Option (Right to Buy)	$15.77							(2)	04/01/2021	Common Stock	6,000		6,000	D
Stock Option (Right to Buy)	$43.79							(2)	04/02/2022	Common Stock	1,903		1,903	D
Stock Option (Right to Buy)	$42.99							(4)	04/01/2023	Common Stock	2,326		2,326	D
Stock Option (Right to Buy)	$47.52							(5)	04/01/2024	Common Stock	2,104		2,104	D
Stock Option (Right to Buy)	$36.1							(6)	04/01/2025	Common Stock	2,770		2,770	D

Explanation of Responses:

1. Includes (i) 349 restricted stock units that vest on 4/1/16; (ii) 631 restricted stock units that vest 316 shares on 4/1/16 and 315 shares on 4/1/17; and (iii) 1,246 restricted stock units that vest 415 shares on 4/1/16, 416 shares on 4/1/17, and 415 shares on 4/1/18.

2. Fully exercisable.

3. Expires five years following termination as a director.

4. Vests in three equal annual installments beginning on 4/1/14.

5. Vests in three annual installments beginning on 4/1/15.

6. Vests 923 shares on 4/1/16, 924 shares on 4/1/17, and 923 shares on 4/1/18.

Remarks:

	/s/ John R. Houston as Attorney-In-Fact for Susan E. Lester pursuant to Power of Attorney previously filed.	02/02/2016
	** 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).
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