What is the origin of the 1,550-share award reported for ZBRA’s Michael Cho?

The 1,550-share award comes from a performance-based restricted stock (PVRS) grant originally made on May 4, 2023. That grant had a three-year performance period ending December 31, 2025, with the final number of shares set on February 3, 2026, based on performance outcomes.

Zebra Technologies (ZBRA) CSO receives 1,550 performance-based stock award

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

4/A

Rhea-AI Filing Summary

Zebra Technologies Chief Strategy Officer Michael Cho reported an acquisition of 1,550 shares of Class A Common Stock as a stock award. These shares resulted from a previously unreportable performance-based restricted stock (PVRS) grant made on May 4, 2023, after a three-year performance period that ended on December 31, 2025. The final number of shares from this PVRS grant was determined on February 3, 2026, and the award is scheduled to vest on May 4, 2026. After this grant, Cho directly holds 6,932 shares of Zebra Technologies Class A Common Stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cho Michael

Role Chief Strategy Officer

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	1,550	$0.00	--

Holdings After Transaction: Class A Common Stock — 6,932 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares awarded: 1,550 shares Holdings after award: 6,932 shares Award grant date: May 4, 2023 +3 more

6 metrics

Shares awarded 1,550 shares Performance-based restricted stock determined on February 3, 2026

Holdings after award 6,932 shares Class A Common Stock directly held after transaction

Award grant date May 4, 2023 Original PVRS grant date

Performance period end December 31, 2025 End of three-year PVRS performance period

Vesting date May 4, 2026 Scheduled vesting date of PVRS shares

Transaction price $0.00 per share Award granted with no purchase price

Key Terms

performance-based restricted stock, PVRS, vest, grant/award acquisition

4 terms

performance-based restricted stock financial

"Previously unreportable performance-based restricted stock (PVRS) granted on May 4, 2023"

Shares granted to employees or executives that are held back and only become actual, tradable stock if the company meets predefined performance targets; until those goals are met the shares cannot be sold. Think of it like a bonus held in escrow that’s released only when specific results are achieved — investors watch these awards because they tie management pay to company outcomes, can dilute existing shareholders when released, and signal how confident or incentivized insiders are to meet growth or profitability goals.

PVRS financial

"The number of shares to result from this PVRS grant was determined on February 3, 2026"

vest financial

"The PVRS will vest on May 4, 2026"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

grant/award acquisition financial

"transaction_action: grant/award acquisition"

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 05:56 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cho Michael

(Last)

(First)

(Middle)

C/O ZEBRA TECHNOLOGIES CORPORATION

3 OVERLOOK POINT

(Street)

LINCOLNSHIRE

ILLINOIS

60069

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ZEBRA TECHNOLOGIES CORP [ ZBRA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Strategy Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
02/05/2026

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	02/03/2026		A		1,550⁽¹⁾	A	$0	6,932	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Previously unreportable performance-based restricted stock (PVRS) granted on May 4, 2023, with a three-year performance period ended December 31, 2025. The number of shares to result from this PVRS grant was determined on February 3, 2026, and the PVRS will vest on May 4, 2026.

Remarks:

On February 5, 2026, the reporting person filed a Form 4 which, due to an administrative error, incorrectly reported that the reporting person was awarded 1,575 shares on February 3, 2026. In fact, as reported in this amendment, the reporting person was awarded 1,550 shares on such date.

	/s/ Cristen Kogl, Attorney-In-Fact	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did ZEBRA TECHNOLOGIES (ZBRA) report for Michael Cho?

Zebra Technologies reported that Chief Strategy Officer Michael Cho acquired 1,550 shares of Class A Common Stock as a stock award. The shares stem from a performance-based restricted stock grant and are part of his compensation package rather than an open-market purchase.

How many Zebra Technologies (ZBRA) shares does Michael Cho hold after this Form 4/A?

After the reported award, Michael Cho directly holds 6,932 shares of Zebra Technologies Class A Common Stock. This total includes the 1,550 shares resulting from the performance-based restricted stock grant determined on February 3, 2026, following completion of the performance period.

When will Michael Cho’s new Zebra Technologies (ZBRA) PVRS shares vest?

The performance-based restricted stock resulting in 1,550 shares for Michael Cho is scheduled to vest on May 4, 2026. Vesting means the shares become fully owned by him, subject to any applicable company policies or continued employment conditions linked to the award.

Was Michael Cho’s Zebra Technologies (ZBRA) transaction an open-market buy or a compensation award?

The transaction was a compensation-related award, not an open-market purchase. It reflects the settlement of a performance-based restricted stock grant, with 1,550 shares awarded at no purchase price as part of Cho’s equity compensation tied to prior performance conditions.