Sec Form 4 Filing - Townsend Joanne @ ZEBRA TECHNOLOGIES CORP - 2012-05-07

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

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Townsend Joanne 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) VP Human Resources (Last) (First) (Middle) C/O ZEBRA TECHNOLOGIES CORPORATION, 475 HALF DAY ROAD, SUITE 500 3. Date of Earliest Transaction (MM/DD/YY) 05/07/2012 (Street) LINCOLNSHIRE, IL60069 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 18,924 D Class A Common Stock 05/07/2012 F 1,625 D $ 37.59 17,299 D Class A Common Stock 05/08/2012 M 3,339 A $ 19.56 20,638 D Class A Common Stock 05/08/2012 F 1,051 D $ 37.82 19,587 D Class A Common Stock 05/08/2012 S 3,542 D $ 37.4 16,045 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 a nd 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 $ 32.43 ( 1 ) 03/17/2018 Class A Common Stock 2,500 2,500 D Stock Appreciation Right $ 19.56 05/08/2012 M 6,916 ( 2 ) 05/07/2019 Class A Common Stock 6,916 $ 0 3,459 D Stock Appreciation Right $ 27.82 ( 3 ) 05/06/2020 Class A Common Stock 6,400 6,400 D Stock Appreciation Right $ 41.57 ( 4 ) 05/05/2021 Class A Common Stock 5,841 5,841 D Stock Appreciation Right $ 38.79 ( 5 ) 04/30/2022 Class A Common Stock 6,852 6,852 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Townsend Joanne C/O ZEBRA TECHNOLOGIES CORPORATION 475 HALF DAY ROAD, SUITE 500 LINCOLNSHIRE, IL60069 VP Human Resources Signatures /s/ Jim L. Kaput, attorney-in-fact 05/09/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Of the shares subject to such option, 2,500 vested on March 17, 2012. ( 2 )Of the stock appreciation right shares subject to this SAR, 3,459 shares vest on May 7, 2013. ( 3 )Of the stock appreciation right shares subject to this SAR, 1,600 shares vested on May 6, 2011, 1,600 shares vested on May 6, 2012, 1,600 shares vest on May 6, 2013 and 1,600 shares vest on May 6, 2014. ( 4 )Of the stock appreciation right shares subject to this SAR, 1,460 shares vested on May 5, 2012, 1,460 shares vest on May 5, 2013, 1,460 shares vest on May 5, 2014 and 1,461 shares vest on May 5, 2015 ( 5 )Of the stock appreciation right shares subject to this SAR, 1,713 shares vest on April 30, 2013, 1,713 vest on April 30, 2014, 1,713 vest on April 30, 2015 and 1,713 vest on April 30, 2016.

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.