ZEBRA TECHNOLOGIES CORP — Director's Dealing 2016

May 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2016-05-19

Reporting Person: SMITH MICHAEL A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-19	Class A Common Stock	A	3584	$48.83	Acquired	57398	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	53814	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$21.83	2019-05-29	Class A Common Stock (2000)	2000	Direct
Stock Appreciation Right	$26.80	2020-05-20	Class A Common Stock (2000)	2000	Direct
Stock Appreciation Right	$42.36	2021-05-19	Class A Common Stock (3209)	3209	Direct
Stock Appreciation Right	$35.97	2022-05-18	Class A Common Stock (4031)	4031	Direct

Footnotes

F1: Of the shares subject to such option, 4,000 shares vested on February 8, 2007, 4,000 shares vested on February 8, 2008, 4,000 shares vested on February 8, 2009, 4,000 shares vested on February 8, 2011 and 4,000 shares vested on February 8, 2011.

F2: This SAR vested in full on May 19, 2011.

F3: Fully vested on grant date.