ZEBRA TECHNOLOGIES CORP — Director's Dealing 2015

May 4, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2015-04-30

Reporting Person: KAPUT JIM L (SVP, GC & Corporate Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-30	Class A Common Stock	F	3358	$92.08	Disposed	20387	Direct
2015-04-30	Class A Common Stock	F	1865	$92.08	Disposed	18522	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	23745	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$41.57	2021-05-05	Class A Common Stock (7509)	2504	Direct
Stock Appreciation Right	$38.79	2022-04-30	Class A Common Stock (11835)	11835	Direct
Stock Appreciation Right	$46.07	2023-05-03	Class A Common Stock (7965)	7965	Direct
Stock Appreciation Right	$74.72	2024-05-08	Class A Common Stock (4406)	4406	Direct

Footnotes

F1: Of the stock appreciation right shares subject to this SAR, 2,503 shares vested on May 5, 2012, 2,503 shares vested on May 5, 2013, 2,503 shares vested on May 5, 2014 and 2,504 shares vest on May 5, 2015.

F2: Of the stock appreciation right shares subject to this SAR, 2,958 shares vested on April 30, 2013, 2,959 vested on April 30, 2014, 2,959 vest on April 30, 2015 and 2,959 vest on April 30, 2016.

F3: Of the stock appreciation right shares subject to this SAR, 1,991 shares vested on 5/3/2014, 1,991 shares vest on 5/3/2015, 1,991 shares vest on 5/3/2016 and 1,992 shares vest on 5/3/2017.

F4: Of the stock appreciation right shares subject to this SAR, 1,101 shares vest on May 8, 2015, 1,101 vest on May 8, 2016, 1,102 vest on May 8, 2017 and 1,102 vest on May 8, 2018.