Zebra Technologies (ZBRA) CMO logs tax share withholding and SARs

Rhea-AI Filing Summary

Zebra Technologies’ Chief Marketing Officer Robert John Armstrong Jr. reported a Form 4 showing 157 shares of Class A Common Stock withheld at $203.97 per share to cover tax obligations, not an open-market sale. After this tax-withholding disposition, he holds 7,973 common shares directly. He also holds stock appreciation rights tied to 198 underlying shares at an exercise price of $244.97 per share, expiring on April 30, 2027, which vested in four annual installments beginning April 30, 2021.

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

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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^*

Armstrong Robert John Jr

(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 Marketing Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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)

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock								8,130	D
Class A Common Stock	03/16/2026		F		157	D	$203.97	7,973	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$244.97							(1)	04/30/2027	Class A Common Stock	198		198	D

Explanation of Responses:

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

Remarks:

	/s/ Cristen Kogl, Attorney-In-Fact	03/18/2026
	** 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)

FAQ

What did Zebra Technologies (ZBRA) insider Robert Armstrong report in this Form 4?

Robert John Armstrong Jr., Zebra Technologies’ Chief Marketing Officer, reported 157 shares of Class A Common Stock withheld at $203.97 per share to satisfy tax obligations. This is a tax-withholding disposition, not an open-market sale, and reflects routine handling of equity compensation.

How many Zebra Technologies (ZBRA) shares does the CMO hold after the reported transaction?

After the tax-withholding disposition, the Chief Marketing Officer holds 7,973 shares of Zebra Technologies Class A Common Stock directly. This post-transaction balance shows his continuing equity stake following the routine withholding of 157 shares to cover associated tax liabilities.

Was the Zebra Technologies (ZBRA) Form 4 transaction a market sale of shares?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. The 157 shares were withheld at $203.97 per share to satisfy tax obligations related to equity compensation, which is a common administrative transaction rather than a discretionary share sale.

What stock appreciation rights did the Zebra Technologies (ZBRA) CMO report?

The filing shows stock appreciation rights linked to 198 underlying shares of Class A Common Stock with an exercise price of $244.97 per share. These rights expire on April 30, 2027 and became exercisable in four equal annual installments starting April 30, 2021.

Does this Zebra Technologies (ZBRA) Form 4 indicate remaining derivative incentives for the CMO?

Yes. The derivative holdings section lists stock appreciation rights tied to 198 underlying common shares at $244.97 per share, expiring on April 30, 2027. These unexercised rights represent additional potential future equity exposure for the executive beyond his direct share holdings.