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 *

Fisher Paul
2. Issuer Name and Ticker or Trading Symbol

ARCTIC CAT INC [ ACAT ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

505 HIGHWAY 169 NORTH, SUITE 1000
3. Date of Earliest Transaction (MM/DD/YYYY)

5/14/2015
(Street)

PLYMOUTH, MN 55441
(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   5/14/2015     A    1420   A $31.51   15724   (1) D  
 

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
Stock Option (Right to Buy)   $15.77                      (2) 4/1/2021   Common Stock   11191     11191   D  
 
Stock Option (Right to Buy)   $43.79                      (2) 4/2/2022   Common Stock   4995     4995   D  
 
Stock Option (Right to Buy)   $42.99                      (3) 4/1/2023   Common Stock   5321     5321   D  
 
Stock Option (Right to Buy)   $47.52                      (4) 4/1/2024   Common Stock   5129     5129   D  
 
Stock Option (Right to Buy)   $31.51   5/14/2015     A      10651         (5) 5/14/2025   Common Stock   10651   $0   10651   D  
 

Explanation of Responses:
( 1)  Includes (i) 237 shares of restricted stock units that vest on 4/1/16; (ii) 455 shares of restricted stock units that vest 227 shares on 4/1/16 and 228 shares on 4/1/17; (iii) 1,250 shares of restricted stock units that vest on 3/31/16; (iv) 3,000 shares that vest on 2/27/17; and (v) 1,420 shares of restricted stock units that vest 473 shares on 5/14/16 and 5/14/18 and 474 shares on 5/14/17.
( 2)  Fully exercisable.
( 3)  Vests in three equal annual installments beginning April 1, 2014.
( 4)  Vests in three equal annual installments beginning April 1, 2015.
( 5)  Vests 3,550 shares on 5/14/16 and 5/14/18 and 3,551 shares on 5/14/17.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Fisher Paul
505 HIGHWAY 169 NORTH
SUITE 1000
PLYMOUTH, MN 55441


Vice President - Operations

Signatures
/s/ John R. Houston as Attorney-in-Fact for Paul Fisher pursuant to Power of Attorney previously filed. 5/18/2015
** 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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