ZEBRA TECHNOLOGIES CORP — Director's Dealing 2025

May 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ZEBRA TECHNOLOGIES CORP (ZBRA)
CIK: 0000877212
Period of Report: 2025-05-07

Reporting Person: Burns Bill (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-07	Class A Common Stock	M	2284	$149.57	Acquired	48080	Direct
2025-05-07	Class A Common Stock	F	1167	$257.10	Disposed	46913	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-07	Stock Appreciation Right	$149.57	M	5463	Disposed	2025-05-10	Class A Common Stock (5463)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	45796	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$205.12	2026-05-02	Class A Common Stock (4364)	4364	Direct
Stock Appreciation Right	$244.97	2027-04-30	Class A Common Stock (3901)	3901	Direct

Footnotes

F1: These stock appreciation rights became exercisable in four equal annual installments beginning on May 10, 2019.

F2: These stock appreciation rights became exercisable in four equal annual installments beginning on May 2, 2020.

F3: These stock appreciation rights became exercisable in four equal annual installments beginning on April 30, 2021.