Form 4: Zebra CFO Winters Reports Equity Transactions

Zebra Technologies CFO Nathan Winters reported recent acquisitions and dispositions of Class A Common Stock and the exercise of Stock Appreciation Rights.

Summary

• Nathan Andrew Winters, Chief Financial Officer of Zebra Technologies Corp (ZBRA), reported multiple transactions involving Class A Common Stock and Stock Appreciation Rights (SARs).
• On March 3, 2026, Winters acquired 7,771 shares of Class A Common Stock at a price of $0, increasing his direct beneficial ownership.
• On March 4, 2026, 812 shares of Class A Common Stock were disposed of at a price of $231.42 per share, likely for tax withholding purposes.
• On March 5, 2026, Winters exercised Stock Appreciation Rights (SARs) with an exercise price of $205.12, resulting in the acquisition of 33 shares of Class A Common Stock.
• Also on March 5, 2026, 16 shares of Class A Common Stock were disposed of at $229.93 per share, likely for tax withholding related to the SAR exercise.
• Following these transactions, Winters directly beneficially owns 26,480 shares of Class A Common Stock.
• All 315 Stock Appreciation Rights with an exercise price of $205.12 were exercised and are no longer beneficially owned.
• Winters continues to hold 578 Stock Appreciation Rights with an exercise price of $244.97, which became exercisable in four equal annual installments beginning April 30, 2021.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It details routine insider transactions related to equity compensation and tax withholding, which are common for executives and do not inherently signal a positive or negative outlook for the company.

Positives

• The acquisition of 7,771 shares of Class A Common Stock at $0 indicates a grant or vesting event, increasing the CFO's equity stake in the company.
• The exercise of Stock Appreciation Rights (SARs) suggests that the underlying stock price was above the exercise price of $205.12, indicating value realization for the CFO.

Negatives

• The disposition of 812 shares and 16 shares of Class A Common Stock were likely for tax withholding purposes related to equity awards, which is a common practice and not typically indicative of a negative outlook.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transaction filings like this Form 4 are routine disclosures and do not typically reflect broader industry trends unless part of a larger pattern of insider activity across the sector. These transactions primarily reflect compensation-related equity movements for a key executive.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive equity ownership and compensation-related transactions, which is standard for publicly traded companies.
• Employees: No direct impact on general employees is indicated by this filing.

Key Dates

Keywords

ZBRA, Zebra Technologies, Form 4, Insider Transaction, CFO, Equity, Stock Appreciation Rights, SARs, Stock Ownership