ZEBRA TECHNOLOGIES CORP — Director's Dealing 2017

Mar 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2017-02-27

Reporting Person: GUSTAFSSON ANDERS (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-27	Class A Common Stock	M	40000	$36.49	Acquired	321003	Direct
2017-02-27	Class A Common Stock	S	40000	$92.22	Disposed	281003	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-27	Employee Stock Option	$36.49	M	40000	Disposed	2018-04-24	Class A Common Stock (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	281003	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$19.56	2019-05-07	Class A Common Stock (40000)	40000	Direct
Stock Appreciation Right	$27.28	2020-05-06	Class A Common Stock (120299)	120299	Direct
Stock Appreciation Right	$41.57	2021-05-05	Class A Common Stock (54484)	54484	Direct
Stock Appreciation Right	$38.79	2022-04-30	Class A Common Stock (62289)	62289	Direct
Stock Appreciation Right	$46.07	2023-05-03	Class A Common Stock (36201)	36201	Direct
Stock Appreciation Right	$74.72	2024-05-08	Class A Common Stock (19493)	19493	Direct
Stock Appreciation Right	$108.20	2025-05-15	Class A Common Stock (21191)	21191	Direct
Stock Appreciation Right	$51.42	2026-05-12	Class A Common Stock (42256)	42256	Direct

Footnotes

F1: Of the stock appreciation right shares subject to this SAR, 22,500 shares vested on each of April 24, 2009, April 24, 2010, April 24, 2011, April 24, 2012.

F2: Of the stock appreciation right shares subject to this SAR, 28,750 shares vested on each of May 7, 2010, May 7, 2011, May 7, 2012 and May 7, 2013.

F3: Of the stock appreciation right shares subject to this SAR, 30,074 shares vested on May 6, 2013, 30,074 shares vested on May 6, 2014 and 60,151 shares vested on May 6, 2015.

F4: Of the stock appreciation right shares subject to this SAR, 13,621 shares vested on each of May 5, 2012, May 5, 2013, May 5, 2014 and May 5, 2015.

F5: Of the stock appreciation right shares subject to this SAR, 15,572 shares vested on each of April 30, 2013, April 30, 2014, and April 30, 2015 and 15,573 shares vest on April 30, 2016.

F6: Of the stock appreciation right shares subject to this SAR, 9,050 shares vested on May 3, 2014 and May 3, 2015, 9,050 shares vest on May 3, 2016 and 9,051 shares vest on May 3, 2017.

F7: Of the stock appreciation right shares subject to this SAR, 10,564 shares vest on each of May 12, 2017, May 12, 2018, May 12, 2019 and May 12, 2020.