O'Sullivan Colleen M 4

What Happened

• Colleen O'Sullivan, Chief Accounting Officer of Zebra Technologies (ZBRA), had a total of 421 shares withheld/disposed to satisfy payment of exercise price or tax liability tied to previously awarded stock appreciation rights. The transactions: 87 shares at $227.08 on 2026-05-02 ($19,756) and 334 shares at $223.73 on 2026-05-04 ($74,726), totaling approximately $94,482. These are disposals for tax withholding (routine), not open-market sales.

Key Details

• Transaction dates and prices:
  • 2026-05-02: 87 shares disposed at $227.08 — $19,756
  • 2026-05-04: 334 shares disposed at $223.73 — $74,726
• Total shares withheld/disposed: 421; total value ≈ $94,482.
• Shares owned after the transactions: Not reported in the provided filing.
• Footnote: F1 — the stock appreciation rights became exercisable in four equal annual installments beginning April 30, 2021.
• Transaction code: F = payment of exercise price or tax liability (shares withheld to cover taxes).
• Filing/ timing: Form filed 2026-05-05 reporting transactions on 2026-05-02 and 2026-05-04; the filing does not indicate a late-report flag in the provided data.

Context

• These transactions reflect tax-withholding related to derivative awards (stock appreciation rights). That typically means shares were surrendered or withheld to cover taxes or exercise costs (a cashless/tax-withholding event), not a deliberate open-market sale that signals a change in conviction. Routine withholding for taxes is common after exercises or vesting and is not, by itself, a directional trading signal.