ZEBRA TECHNOLOGIES CORP — Director's Dealing 2021

May 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2021-05-06

Reporting Person: Williams Stephen Edgar (Chief Global Ops & Services)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-06	Class A Common Stock	A	622	—	Acquired	3971	Direct
2021-05-07	Class A Common Stock	M	269	$205.12	Acquired	4240	Direct
2021-05-07	Class A Common Stock	F	66	$483.86	Disposed	4174	Direct
2021-05-07	Class A Common Stock	M	200	$244.97	Acquired	4374	Direct
2021-05-07	Class A Common Stock	F	49	$483.86	Disposed	4325	Direct
2021-05-07	Class A Common Stock	S	354	$484.05	Disposed	3971	Direct
2021-05-07	Class A Common Stock	S	560	$484.27	Disposed	3411	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-07	Stock Appreciation Right	$205.12	M	468	Disposed	2026-05-02	Class A Common Stock (1404.0)	Direct
2021-05-07	Stock Appreciation Right	$244.97	M	406	Disposed	2027-04-30	Class A Common Stock (1624.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	3349	Direct

Footnotes

F1: Of the restricted stock units subject to this award, 207 vest on May 6, 2022, 207 vest on May 6, 2023 and 208 vest on May 6, 2024.

F2: Of the stock appreciation rights subject to this SAR, 467 vest on May 2, 2020, 468 vest on May 2, 2021, 468 vest on May 2, 2022 and 468 vest on May 2, 2023.

F3: Of the stock appreciation rights subject to this SAR, 406 vest on April 30, 2021, 406 vest on April 30, 2022, 406 vest on April 30, 2023 and 406 vest on April 30, 2024.