Was the CEO’s Zebra Technologies share disposal an open-market sale?

The disposal was characterized as a tax-withholding transaction, not an open-market sale. On March 4, 2026, 2,222 Class A shares at $231.42 each were used to satisfy tax obligations, described as a payment of tax liability by delivering securities.

Zebra CEO gets stock grant, uses shares for taxes

Zebra Technologies Chief Executive Officer Bill Burns reported equity compensation moves involving the company’s Class A Common Stock.

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Form Type

Rhea-AI Filing Summary

Zebra Technologies Chief Executive Officer Bill Burns reported equity compensation moves involving the company’s Class A Common Stock. On March 3, 2026, he acquired 20,990 shares through a grant or award at $0.0000 per share, increasing his direct holdings.

On March 4, 2026, he disposed of 2,222 shares at a price of $231.42 per share in a tax-withholding disposition to cover tax obligations, leaving 75,798 Class A shares held directly. The filing also shows Stock Appreciation Rights with 4,364 and 3,901 units outstanding that became exercisable in four equal annual installments beginning on May 2, 2020 and April 30, 2021, respectively.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Burns Bill

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A Common Stock	2,222	$231.42	$514K
Grant/Award	Class A Common Stock	20,990	$0.00	$0.00
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 132,828 shares (Direct); Stock Appreciation Right — 8,265 contracts (Direct)

Footnotes (2)

F1. These stock appreciation rights became exercisable in four equal annual installments beginning on May 2, 2020.
F2. These stock appreciation rights became exercisable in four equal annual installments beginning on April 30, 2021.

FAQ

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What insider transactions did ZBRA CEO Bill Burns report on this Form 4?

Bill Burns reported a stock award and a tax-related share disposition. He received 20,990 Class A Common shares on March 3, 2026, then used 2,222 shares on March 4, 2026 in a tax-withholding disposition, leaving 75,798 shares directly held.

How many Zebra Technologies (ZBRA) shares did the CEO acquire in the latest grant?

Bill Burns acquired 20,990 Class A Common Stock shares through a grant on March 3, 2026. The grant price was recorded as $0.0000 per share, reflecting an equity award rather than an open-market purchase, and it increased his directly held share count.

How many Zebra Technologies shares does the CEO hold after these transactions?

After the reported transactions, Bill Burns directly holds 75,798 Class A Common Stock shares. This figure reflects the March 3, 2026 equity grant of 20,990 shares and the March 4, 2026 tax-withholding disposition of 2,222 shares used to cover tax liabilities.

What Stock Appreciation Rights did the Zebra Technologies CEO report holding?

Bill Burns reported holding Stock Appreciation Rights totaling 4,364 and 3,901 units. According to the disclosures, these rights became exercisable in four equal annual installments starting May 2, 2020 and April 30, 2021, providing potential value linked to Zebra’s share price performance.

Are the reported Zebra Technologies insider transactions classified as buys or sells?

The filing classifies one acquisition and one disposition, but not open-market buys or sells. The acquisition is a 20,990-share grant, while the disposition of 2,222 shares is a tax-withholding event used to cover tax liabilities by delivering company stock.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 03/05/2026 - 04:36 PM EST

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^*

Burns Bill

(Last)

(First)

(Middle)

C/O ZEBRA TECHNOLOGIES CORPORATION

3 OVERLOOK POINT

(Street)

LINCOLNSHIRE

60069

(City)

(State)

(Zip)

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

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

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

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

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

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

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

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								57,030	D
Class A Common Stock	03/03/2026		A		20,990	A	$0	78,020	D
Class A Common Stock	03/04/2026		F		2,222	D	$231.42	75,798	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)
Stock Appreciation Right	$205.12							⁽¹⁾	05/02/2026	Class A Common Stock	4,364		4,364	D
Stock Appreciation Right	$244.97							⁽²⁾	04/30/2027	Class A Common Stock	3,901		3,901	D

Explanation of Responses:

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

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

Remarks:

	/s/ Cristen Kogl, Attorney-In-Fact	03/05/2026
	** 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.

Source: View Original Filing on SEC EDGAR