ZEBRA TECHNOLOGIES CORP — Director's Dealing 2017

May 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2017-05-11

Reporting Person: Schmitz Jeffrey F (SVP, Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-11	Class A Common Stock	A	2104	$98.87	Acquired	5565	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-11	Stock Appreciation Right	$98.87	A	3486	Acquired	2027-05-11	Class A Common Stock (3486)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	3461	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$59.53	2026-02-06	Class A Common Stock (5092)	5092	Direct

Footnotes

F1: Restricted shares vest on May 11, 2020.

F2: Of the stock appreciation rights subject to this SAR, 1,273 vested on February 28, 2017, 1,273 vest on February 28, 2018, 1,273 vest on February 28, 2019 and 1,273 vest on February 29, 2020.

F3: Of the stock appreciation rights subject to this SAR, 871 vest on May 11, 2018, 871 vest on May 11, 2019, 872 vest on May 11, 2020 and 872 vest on May 11, 2021.