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ZEBRA TECHNOLOGIES CORP Director's Dealing 2017

May 26, 2017

17736_dirs_2017-05-26_6f826d29-b3f7-48c3-95ee-cddd5c6274fe.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: 2017-05-25

Reporting Person: KEYSER RICHARD L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-25	Class A Common Stock	M	18000	$35.75	Acquired	41632	Direct
2017-05-25	Class A Common Stock	S	6132	$106.26	Disposed	35500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-25	Director Stock Option	$35.75	M	18000	Disposed	2018-06-16	Class A Common Stock (18000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	23632	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$21.83	2019-05-29	Class A Common Stock (6000)	6000	Direct
Stock Appreciation Right	$26.80	2020-05-20	Class A Common Stock (6000)	6000	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: Exercise of nine year old option and sale of shares to pay exercise price only.