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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* LAUREN RALPH (Last) (First) (Middle) 650 MADISON AVE (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol POLO RALPH LAUREN CORP [ RL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Chairman & CEO
	3. Date of Earliest Transaction (Month/Day/Year) 07/15/2011
	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
Class A Common Stock	06/17/2011		G	V	4,900	D	$0	615,408.27	D
Class A Common Stock	07/15/2011		A		720.22	A	(1)	616,128.49	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
Options issued purs. to 2010 Long-Term Stock Incentive Plan	$134.53	07/15/2011		A		100,000		(2)	07/15/2018	Class A Common Stock	100,000	$0	100,000	D
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	12,994,867		12,994,867(4)	D
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	3,697,413		3,697,413(4)	I	By GRATs
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	1,460,397		1,460,397(5)	I	By Wife
Class B Common Stock	(3)	05/27/2011		G	V		121,620	(3)	(3)	Class A Common Stock	121,620	$0	810,043(6)	I	By Wife's GRATs
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	120,365		120,365	I	By Trust(7)
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	58,317		58,317	I	By Trust(8)

Explanation of Responses:

1. Represents restricted stock units payable as a result of the payment of a cash dividend on the Issuer's Class A Common Stock. The restricted stock units are payable solely in shares of the Issuer's Class A Common Stock issued to the reporting person in respect of restricted stock units previously granted under the Issuer's 1997 Long-Term Stock Incentive Plan.

2. These options vest and become exercisable in three equal annual installments beginning July 15, 2012.

3. The reporting person has the right, at his option, at any time and from time to time, to convert shares of Class B Common Stock into Class A Common Stock on a one-for-one basis.

4. Reflects a distribution on May 31, 2011 to the reporting person of 284,702 shares of Class B Common Stock from a grantor retained annuity trust, of which the reporting person is a trustee.

5. Reflects a distribution on May 27, 2011 to the reporting person's wife of 189,556 shares of Class B Common Stock upon the termination of a grantor retained annuity trust, of which the reporting person's wife was a trustee, and a distribution on May 31, 2011 to the reporting person's wife of 168,157 shares of Class B Common Stock from a grantor retained annuity trust, of which the reporting person's wife is a trustee.

6. Reflects a distribution on May 27, 2011 to the reporting person's wife of 189,556 shares of Class B Common Stock and a gift on May 27, 2011 to a successor trust for the benefit of the issue of the reporting person's wife and for various trusts of which the reporting person's wife is a grantor of 121,620 shares of Class B Common Stock upon the termination of a grantor retained annuity trust of which the reporting person's wife was a trustee. Neither the reporting person nor his wife is a trustee of such successor trust. Reflects a distribution on May 31, 2011 to the reporting person's wife of 168,157 shares of Class B Common Stock from a grantor retained annuity trust, of which the reporting person's wife is a trustee.

7. These shares of Class B Common Stock are held by a successor trust of which the reporting person is an investment trustee.

8. These shares of Class B Common Stock are held by a successor trust of which the reporting person's wife is an investment trustee.

	/s/ Yen D. Chu, Attorney-in-Fact	07/19/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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