STOCK TITAN

Zebra Technologies (NASDAQ: ZBRA) CEO reports tax-related share withholding

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Zebra Technologies Corp Chief Executive Officer Bill Burns reported routine share transactions related to tax obligations, not open-market trading. On May 4, 2026, 6,185 shares of Class A Common Stock were withheld at $223.73 per share, and on May 2, 2026, 2,005 shares were withheld at $227.08 per share to cover taxes.

After these dispositions, Burns directly held 67,782 shares of Class A Common Stock. He also held stock appreciation rights tied to 3,901 underlying shares of Class A Common Stock with an exercise price of $244.97 per share, expiring on April 30, 2027. Footnotes state these stock appreciation rights became exercisable in four equal annual installments beginning on April 30, 2021.

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Insider Burns Bill
Role Chief Executive Officer
Type Security Shares Price Value
Tax Withholding Class A Common Stock 6,185 $223.73 $1.38M
Tax Withholding Class A Common Stock 2,005 $227.08 $455K
holding Stock Appreciation Right -- -- --
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 67,782 shares (Direct, null); Stock Appreciation Right — 3,901 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Tax-withheld shares May 4, 2026 6,185 shares at $223.73/share Class A Common Stock withheld for tax obligations
Tax-withheld shares May 2, 2026 2,005 shares at $227.08/share Class A Common Stock withheld for tax obligations
Total tax-withheld shares 8,190 shares Sum of F-code tax-withholding dispositions
Shares held after transactions 67,782 shares Direct Class A Common Stock ownership following May 4, 2026 entry
Underlying shares for SARs 3,901 shares Stock appreciation rights tied to Class A Common Stock
SAR exercise price $244.97/share Exercise price for stock appreciation rights
SAR expiration date April 30, 2027 End date for exercisability of stock appreciation rights
Stock Appreciation Right financial
"security_title": "Stock Appreciation Right""
A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Class A Common Stock financial
"security_title": "Class A Common Stock""
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
exercise price financial
"conversion_or_exercise_price": "244.9700""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
Form 4 regulatory
"INSIDER FILING DATA (Form 4):"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
SEC Form 4
FORM 4UNITED 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 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chief Executive Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/02/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock75,972D
Class A Common Stock05/02/2026F2,005D$227.0873,967D
Class A Common Stock05/04/2026F6,185D$223.7367,782D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Appreciation Right$244.97 (1)04/30/2027Class A Common Stock3,9013,901D
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-Fact05/05/2026
** Signature of Reporting PersonDate
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 insider transactions did Zebra Technologies (ZBRA) CEO Bill Burns report?

Bill Burns reported tax-related share withholdings rather than open-market trades. On May 4, 2026, 6,185 shares were withheld at $223.73, and on May 2, 2026, 2,005 shares were withheld at $227.08 to satisfy tax obligations tied to equity compensation.

How many Zebra Technologies (ZBRA) shares does CEO Bill Burns hold after these transactions?

After the reported tax withholdings, Bill Burns directly holds 67,782 shares of Zebra Technologies Class A Common Stock. This figure comes from the Form 4 totals following the May 4, 2026 transaction and reflects his remaining direct ownership position.

Were the recent Zebra Technologies (ZBRA) CEO share transactions open-market sales?

No, the reported Form 4 transactions are tax-withholding dispositions, not open-market sales. The F-coded entries show shares delivered back to the issuer at specified prices to cover tax liabilities associated with equity awards, a common administrative mechanism for executives.

What stock appreciation rights does the Zebra Technologies (ZBRA) CEO currently hold?

Bill Burns holds stock appreciation rights linked to 3,901 underlying shares of Class A Common Stock, with a $244.97 exercise price and an April 30, 2027 expiration. Footnotes note these rights vested in four equal installments beginning April 30, 2021.

What is the total number of Zebra Technologies (ZBRA) shares withheld for CEO tax obligations in this Form 4?

The Form 4 shows a total of 8,190 shares used for tax withholding, combining 6,185 shares at $223.73 on May 4, 2026 and 2,005 shares at $227.08 on May 2, 2026. These dispositions settled tax liabilities from equity compensation.

Does Zebra Technologies (ZBRA) CEO Bill Burns still have equity incentives outstanding?

Yes, he retains stock appreciation rights on 3,901 underlying shares of Class A Common Stock. These rights carry a $244.97 exercise price, expire on April 30, 2027, and became exercisable in four annual installments starting April 30, 2021.