FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Cho Michael 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
(Last)         (First)         (Middle)
C/O ZEBRA TECHNOLOGIES CORPORATION, 3 OVERLOOK POINT
3. Date of Earliest Transaction (MM/DD/YYYY)
5/25/2021
(Street)
LINCOLNSHIRE, IL 60069
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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                 3825  D   
Class A Common Stock  5/25/2021    S    2125  D $505.78  1700  D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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  $98.87                   (1) 5/11/2024  Class A Common Stock  755.0    755  D   
Stock Appreciation Right  $149.57                   (2) 5/10/2025  Class A Common Stock  999.0    999  D   
Stock Appreciation Right  $205.12                   (3) 5/2/2026  Class A Common Stock  1170.0    1170  D   
Stock Appreciation Right  $244.97                   (4) 4/30/2027  Class A Common Stock  1448.0    1448  D   

Explanation of Responses:
(1)  Of the stock appreciation rights subject to this SAR, 754 vest on May 11, 2018, 754 vest on May 11, 2019, 754 vest on May 11, 2020 and 755 vest on May 11, 2021.
(2)  Of the stock appreciation rights subject to this SAR, 499 vest on May 10, 2019, 499 vest on May 10, 2020, 499 vest on May 10, 2021 and 500 vest on May 10, 2022.
(3)  Of the stock appreciation rights subject to this SAR, 389 vest on May 2, 2020, 390 vest on May 2, 2021, 390 vest on May 2, 2022 and 390 vest on May 2, 2023.
(4)  Of the stock appreciation rights subject to this SAR, 362 vest on April 30, 2021, 362 vest on April 30, 2022, 362 vest on April 30, 2023 and 362 vest on April 30, 2024.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Cho Michael
C/O ZEBRA TECHNOLOGIES CORPORATION
3 OVERLOOK POINT
LINCOLNSHIRE, IL 60069


Chief Strategy Officer

Signatures
/s/ Cristen Kogl, Attorney-In-Fact 5/27/2021
**Signature of Reporting Person Date
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