ZEBRA TECHNOLOGIES CORP — Director's Dealing 2013

May 30, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2013-05-28

Reporting Person: GAGNIER HUGH K (SVP Operations, SPS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-28	Class A Common Stock	M	16932	$19.56	Acquired	48850	Direct
2013-05-28	Class A Common Stock	S	16932	$46.76	Disposed	31918	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-28	Stock Appreciation Right	$19.56	M	29122	Disposed	2019-05-07	Class A Common Stock (29122)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	31918	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$43.35	2016-02-06	Class A Common Stock (4960)	4960	Direct
Employee Stock Option	$47.12	2014-02-11	Class A Common Stock (10500)	10500	Direct
Employee Stock Option	$51.62	2015-02-07	Class A Common Stock (9686)	9686	Direct
Employee Stock Option	$41.25	2017-04-25	Class A Common Stock (9334)	9334	Direct
Employee Stock Option	$36.49	2018-04-24	Class A Common Stock (14480)	14480	Direct
Stock Appreciation Right	$27.82	2020-05-06	Class A Common Stock (15100)	15100	Direct
Stock Appreciation Right	$41.57	2021-05-05	Class A Common Stock (12516)	12516	Direct
Stock Appreciation Right	$38.79	2022-04-30	Class A Common Stock (15572)	15572	Direct
Stock Appreciation Right	$46.07	2023-05-03	Class A Common Stock (9775)	9775	Direct

Footnotes

F1: Of the shares subject to such option, 744 vested on February 6, 2007, 868 vested on February 6, 2008, 992 vested on February 6, 2009, 1,116 vested on February 6, 2010 and 1,240 vested on February 6, 2011.

F2: Of the shares subject to such option, 1,575 vested on February 11, 2005, 1,837 vested on February 11, 2006, 2,100 vested on February 11, 2007, 2,362 vested on February 11, 2008 and 2,626 vested on February 11, 2009.

F3: Of the shares subject to such option, 1,452 vested on February 7, 2006, 1,695 vested on February 7, 2007, 1,937 vested on February 7, 2008, 2,180 vested on February 7, 2009 and 2,422 vested on February 7, 2010.

F4: Of the shares subject to such option, 2,333 vested on April 25, 2008, 2,333 vested on April 25, 2009, 2,334 vested on April 25, 2010 and 2,334 vested on April 25, 2011.

F5: Of the shares subject to such option, 3,620 vested on April 24, 2009, 3,620 vested on April 24, 2010, 3,620 vested on April 24, 2011 and 3,620 vested on April 24, 2012.

F6: Of the stock appreciation right shares subject to this SAR, 7,280 shares vested on May 7, 2010, 7,280 shares vested on May 7, 2011, 7,281 shares vested on May 7, 2012 and 7,281 shares vested on May 7, 2013.

F7: Of the stock appreciation right shares subject to this SAR, 3,775 shares vested on May 6, 2011, 3,775 shares vested on May 6, 2012, 3,775 shares vested on May 6, 2013 and 3,775 vest on May 6, 2014.

F8: Of the stock appreciation right shares subject to this SAR, 3,129 shares vested on May 5, 2012, 3,129 shares vested on May 5, 2013, 3,129 vest on May 5, 2014 and 3,129 shares vest on May 5, 2015.

F9: Of the stock appreciation right shares subject to this SAR, 3,893 shares vested on April 30, 2013, 3,893, vest on April 30, 2014, 3,893, vest on April 30, 2015 and 3,893 vest on April 30, 2016.

F10: Of the stock appreciation right shares subject to this SAR, 2,443 shares vest on 5/3/2014, 2,444 shares vest on 5/3/2015, 2,444 shares vest on 5/3/2016 and 2,444 shares vest on 5/3/2017.