ZEBRA TECHNOLOGIES CORP — Director's Dealing 2020

May 13, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2020-05-10

Reporting Person: TERZICH MICHAEL H (SVP, Chief Administrative Ofcr)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-10	Class A Common Stock	F	301	$242.92	Disposed	31136	Direct
2020-05-11	Class A Common Stock	F	1300	$235.26	Disposed	29836	Direct
2020-05-11	Class A Common Stock	F	937	$235.26	Disposed	28899	Direct
2020-05-11	Class A Common Stock	F	1404	$235.26	Disposed	27495	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	31437	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$51.42	2026-05-12	Class A Common Stock (1824.0)	1824	Direct
Stock Appreciation Right	$98.87	2024-05-11	Class A Common Stock (2430.0)	2430	Direct
Stock Appreciation Right	$149.57	2025-05-10	Class A Common Stock (3194.0)	3194	Direct
Stock Appreciation Right	$205.12	2026-05-02	Class A Common Stock (2401.0)	2401	Direct

Footnotes

F1: Of the stock appreciation rights subject to this SAR, 1,823 vest on May 12, 2017, 1,824 vest on May 12, 2018, 1,824 vest on May 12, 2019 and 1,824 vest on May 12, 2020.

F2: Of the stock appreciation rights subject to this SAR, 1,215 vest on May 11, 2018, 1,215 vest on May 11, 2019, 1,215 vest on May 11, 2020 and 1,215 vest on May 11, 2021.

F3: Of the stock appreciation rights subject to this SAR, 798 vest on May 10, 2019, 798 vest on May 10, 2020, 799 vest on May 10, 2021 and 799 vest on May 10, 2022.

F4: Of the stock appreciation rights subject to this SAR, 600 vest on May 2, 2020, 600 vest on May 2, 2021, 600 vest on May 2, 2022 and 601 vest on May 2, 2023.