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
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
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 * GUSTAFSSON ANDERS 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
(Last)         (First)         (Middle)
C/O ZEBRA TECHNOLOGIES CORPORATION, 3 OVERLOOK POINT
3. Date of Earliest Transaction (MM/DD/YYYY)
8/9/2021
(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                 175012  D   
Class A Common Stock  8/9/2021    S    6528  D $565.17  168484  D   
Class A Common Stock  8/10/2021    S    13867  D $565.62  154617  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  $74.72                   (1) 5/8/2024  Class A Common Stock  8493.0    8493  D   
Stock Appreciation Right  $108.2                   (2) 5/15/2025  Class A Common Stock  21191.0    21191  D   
Stock Appreciation Right  $51.42                   (3) 5/12/2026  Class A Common Stock  42256.0    42256  D   
Stock Appreciation Right  $98.87                   (4) 5/11/2024  Class A Common Stock  33514.0    33514  D   
Stock Appreciation Right  $149.57                   (5) 5/10/2025  Class A Common Stock  25214.0    25214  D   
Stock Appreciation Right  $205.12                   (6) 5/2/2026  Class A Common Stock  23379.0    23379  D   
Stock Appreciation Right  $244.97                   (7) 4/30/2027  Class A Common Stock  20134.0    20134  D   

Explanation of Responses:
(1)  Of the stock appreciation rights subject to this SAR, 4,873 vest on each of May 8, 2015, May 8, 2016 and May 8, 2017 and 4,874 vest on May 8, 2018.
(2)  Of the stock appreciation rights subject to this SAR, 5,297 vest on May 15, 2016, 5,298 vest on May 15, 2017, 5,298 vest on May 15, 2018 and 5,298 vest on May 15, 2019.
(3)  Of the stock appreciation rights subject to this SAR, 10,564 vest on May 12, 2017, 10,564 vest on May 12, 2018, 10,564 vest on May 12, 2019 and 10,564 vest on May 12, 2020.
(4)  Of the stock appreciation rights subject to this SAR, 8,378 vest on May 11, 2018, 8,378 vest on May 11, 2019, 8,379 vest on May 11, 2020 and 8,379 vest on May 11, 2021.
(5)  Of the stock appreciation rights subject to this SAR, 6,303 vest on May 10, 2019, 6,303 vest on May 10, 2020, 6,304 vest on May 10, 2021 and 6,304 vest on May 10, 2022.
(6)  Of the stock appreciation rights subject to this SAR, 5,844 vest on May 2, 2020, 5,845 vest on May 2, 2021, 5,845 vest on May 2, 2022 and 5,845 vest on May 2, 2023.
(7)  Of the stock appreciation rights subject to this SAR, 5,033 vest on April 30, 2021, 5,033 vest on April 30, 2022, 5,034 vest on April 30, 2023 and 5,034 vest on April 30, 2024.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GUSTAFSSON ANDERS
C/O ZEBRA TECHNOLOGIES CORPORATION
3 OVERLOOK POINT
LINCOLNSHIRE, IL 60069
X
Chief Executive Officer

Signatures
/s/ Cristen Kogl, Attorney-In-Fact 8/11/2021
**Signature of Reporting Person Date
Zebra Technologies (NASDAQ:ZBRA)
Historical Stock Chart
From Sep 2021 to Oct 2021 Click Here for more Zebra Technologies Charts.
Zebra Technologies (NASDAQ:ZBRA)
Historical Stock Chart
From Oct 2020 to Oct 2021 Click Here for more Zebra Technologies Charts.