Sec Form 4 Filing - TERZICH MICHAEL H @ ZEBRA TECHNOLOGIES CORP - 2015-05-20

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 TERZICH MICHAEL H 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) SVP, Global Sales & Marketing (Last) (First) (Middle) C/O ZEBRA TECHNOLOGIES CORPORATION, 333 CORPORATE WOODS PARKWAY 3. Date of Earliest Transaction (MM/DD/YY) 05/20/2015 (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 39,098 D Class A Common Stock 05/20/2015 S 7,513 D $ 109.07 31,585 D Class A Common Stock 05/21/2015 M 7,127 A $ 41.57 38,712 D Class A Common Stock 05/21/2015 S 7,127 D $ 108.56 31,585 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 Stock Appreciation Right $ 41.57 05/21/2015 M 11,563 ( 1 ) 05/05/2021 Class A Common Stock 11,563 $ 0 0 D Stock Appreciation Right $ 38.79 ( 2 ) 04/30/2022 Class A Common Stock 14,326 14,326 D Stock Appreciation Right $ 46.07 ( 3 ) 05/03/2023 Class A Common Stock 8,689 8,689 D Stock Appreciation Right $ 74.72 ( 4 ) 05/08/2024 Class A Common Stock 4,796 4,796 D Stock Appreciation Right $ 108.2 ( 5 ) 05/15/2025 Class A Common Stock 3,668 3,668 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other TERZICH MICHAEL H C/O ZEBRA TECHNOLOGIES CORPORATION 333 CORPORATE WOODS PARKWAY VERNON HILLS, IL60061 SVP, Global Sales & Marketing Signatures /s/ Jim L. Kaput, attorney-in-fact 05/22/2015 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Of the stock appreciation right shares subject to this SAR, 2,890 shares vested on May 5, 2012, 2,891 shares vested on May 5, 2013, 2,891 shares vested on May 5, 2014 and 2,891 shares vest on May 5, 2015. ( 2 )Of the stock appreciation right shares subject to this SAR, 3,581 shares vested on April 30, 2013, 3,581 shares vested on April 30, 2014, 3,582 shares vest on April 30, 2015 and 3,582 shares vest on April 30, 2016. ( 3 )Of the stock appreciation right shares subject to this SAR, 2,172 shares vested on May 3, 2014, 2,172 shares vest on May 3, 2015, 2,172 shares vest on May 3, 2016 and 2,173 shares vest on May 3, 2017. ( 4 )Of the stock appreciation right shares subject to this SAR, 1,199 shares vest on May 8, 2015, 1,199 shares vest on May 8, 2016, 1,199 shares vest on May 8, 2017 and 1,199 shares vest on May 8, 2018. ( 5 )Of the stock appreciation right shares subject to this SAR, 917 shares vest on May 15, 2016, 917 shares vest on May 15, 2017, 917 shares vest on May 15, 2018 and 917 shares vest on May 15, 2019.

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).

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