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ZEBRA TECHNOLOGIES CORP Director's Dealing 2010

May 10, 2010

17736_dirs_2010-05-10_1aee6cd6-7858-477e-989f-73bb7be849a9.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2010-05-06

Reporting Person: Townsend Joanne (VP Human Resources)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2010-05-06 Class A Common Stock A 2400 Acquired 13567 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2010-05-06 Stock Appreciation Right $27.82 A 6400 Acquired 2020-05-06 Class A Common Stock (6400) Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Employee Stock Option $32.43 2018-03-17 Class A Common Stock (10000) 10000 Direct
Stock Appreciation Right $19.56 2019-05-07 Class A Common Stock (13833) 13833 Direct

Footnotes

F1: Of the shares subject to such option, 2,500 vested on March 17, 2009, 2,500 vested on March 17, 2010, 2,500 vest on March 17, 2011, and 2,500 vest on March 17, 2012.

F2: Of the stock appreciation right shares subject to this SAR, 3,458 shares vest on May 7, 2010, 3,458 shares vest on May 7, 2011, 3,458 shares vest on May 7, 2012 and 3,459 shares vest on May 7, 2013.

F3: Restricted shares that will vest on May 6, 2013.

F4: Of the stock appreciation right shares subject to this SAR, 1,600 shares vest on May 6, 2011, 1,600 shares vest on May 6, 2012, 1,600 shares vest on May 6, 2013 and 1,600 shares vest on May 6, 2014.