GUSTAFSSON ANDERS 4

What Happened
Anders Gustafsson, a director of Zebra Technologies (ZBRA), was reported to have acquired 951 shares on May 19, 2026 as an award/grant. The filing lists a per-share value of $247.15, for a total reported value of approximately $235,040. This was an award/other acquisition (Form 4 code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-19; Form 4 filed: 2026-05-21 (timely filing).
• Shares acquired: 951 at $247.15 per share; total value ≈ $235,040.
• Shares owned after transaction: not specified in the filing.
• Footnote: These are stock appreciation rights (SARs) that became exercisable in four equal annual installments beginning April 30, 2021 (footnote F1).
• Transaction type: Award/acquisition (A); no 10b5-1 plan, tax-withholding, or late-filing flags noted in the filing.

Context
Stock appreciation rights are derivative awards that pay the holder the increase in the company’s stock price and can be settled in cash or shares; the Form 4 reports acquisition of shares, indicating share settlement in this instance. As a director compensation-related award, this is part of routine equity pay rather than an open-market purchase or sale and should be interpreted as compensation alignment with shareholders rather than a direct buy/sell signal.