Sec Form 4 Filing - KINDSVATER JOHN H @ ZEBRA TECHNOLOGIES CORP/DE - 2005-03-04

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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person KINDSVATER JOHN H 2. Issuer Name and Ticker or Trading Symbol ZEBRA TECHNOLOGIES CORP/DE [ ZBRA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Sr. VP Corporate Development (Last) (First) (Middle) ZEBRA TECHNOLOGIES CORPORATION, 333 CORPORATE WOODS PARKWAY 3. Date of Earliest Transaction (MM/DD/YY) 03/04/2005 (Street) VERNON HILLS, IL60061 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 03/04/2005 M 2,000 A $ 11.81 3,021 ( 5 ) D Class A Common Stock 03/04/2005 S 2,000 D $ 51.33 3,021 ( 5 ) 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 Employee Stock Option $ 17.22 ( 1 ) 04/21/2008 Class A Common Stock 11,250 11,250 D Employee Stock Option $ 11.81 03/04/2005 M 2,000 ( 1 ) 03/02/2009 Class A Common Stock 9,000 ( 4 ) 5,500 D Employee Stock Option $ 21.62 ( 2 ) 02/08/2012 Class A Common Stock 33,750 33,750 D Employee Stock Option $ 25.23 ( 3 ) 02/11/2013 Class A Common Stock 13,500 13,500 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other KINDSVATER JOHN H ZEBRA TECHNOLOGIES CORPORATION 333 CORPORATE WOODS PARKWAY VERNON HILLS, IL60061 Sr. VP Corporate Development Signatures John H. Kindsvater 03/07/2005 Signature of Reporting Person Date

Explanation of Responses:

( 1 )All of such options are currently exercisable. ( 2 )Of such options, 5,062 vested on February 8, 2003, 5,905 vested on February 8, 2004, 6,750 vested on February 8, 2005, 7,593 vest on February 8, 2006, and 8,440 vest on February 8, 2007. ( 3 )Of such options, 2,025 vested on February 11, 2004, 2,362 vested on February 11, 2005, 2,700 vest on February 11, 2006, 3,037 vest on February 11, 2007 and 3,376 vest on February 11, 2008. ( 4 )Not applicable. ( 5 )Includes 97 shares acquired by the reporting person pursuant Zebra's employee stock purchase plan on September 30, 2004 and 90 shares acquired by the reporting person pursuant Zebra's employee stock purchase plan on December 31, 2004.

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).

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