What the executives and directors of Zebra Technologies actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| GUSTAFSSON ANDERS | Director | 228.4K | — | — |
| Burns Bill Chief Executive Officer | CEO | 67.8K | — | — |
| Winters Nathan Andrew Chief Financial Officer | CFO | 23.1K | — | — |
| Kogl Cristen L Chief Legal Officer | Officer | 21.8K | — | $34K |
| KEYSER RICHARD L | Director | 19K | — | — |
| MANIRE ROSS W | Director | 16.8K | — | — |
| Modruson Frank Blaise | Director | 16.3K | — | — |
| White Joseph Ramsey Chief Product & Solutions | Officer | 12.1K | — | — |
| SMITH MICHAEL A | Director | 11.6K | — | — |
| Schmitz Jeffrey F Chief People Officer | Officer | 11.1K | — | — |
| Hudson Richard Edward Chief Revenue Officer | Officer | 10.8K | — | — |
| Cho Michael Chief Strategy Officer | Officer | 8,695 | — | — |
| O'Sullivan Colleen M Chief Accounting Officer | Officer | 7,500 | — | — |
| Armstrong Robert John Jr Chief Marketing Officer | Officer | 7,459 | — | $2K |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-26 | Luff Loizides Melissa (Officer) | Discretionary sale | 500 | $253.95 | $127K |
| 2026-05-14 | ROBERTS JANICE M (Director) | Discretionary sale | 3,000 | $249.54 | $749K |
| 2026-03-12 | Dhanasekaran Satish (Director) | Open-market buy | 200 | $205.40 | $41K |
| 2026-03-05 | Kogl Cristen L (Officer) | Discretionary sale | 145 | $235.71 | $34K |
| 2026-03-05 | Armstrong Robert John Jr (Officer) | Discretionary sale | 9 | $229.73 | $2K |
| 2026-02-27 | Dhanasekaran Satish (Director) | Open-market buy | 500 | $225.25 | $113K |
| 2025-11-18 | Dhanasekaran Satish (Director) | Open-market buy | 299 | $233.63 | $70K |
| 2025-11-18 | Dhanasekaran Satish (Director) | Open-market buy | 701 | $232.90 | $163K |
| 2025-08-12 | Connly Linda (Director) | Discretionary sale | 1,107 | $322.00 | $356K |
| 2025-02-25 | GUSTAFSSON ANDERS (Director) | Open-market buy | 2,727 | $309.77 | $845K |
| 2025-02-24 | GUSTAFSSON ANDERS (Director) | Open-market buy | 500 | $311.00 | $156K |
| 2024-11-25 | O'Sullivan Colleen M (Officer) | Discretionary sale | 190 | $399.89 | $76K |
| 2024-11-12 | Cho Michael (Officer) | Discretionary sale | 298 | $400.95 | $119K |
| 2024-11-08 | White Joseph Ramsey (Officer) | Discretionary sale | 1,556 | $400.75 | $624K |
| 2024-11-07 | Hudson Richard Edward (Officer) | Discretionary sale | 1,105 | $394.47 | $436K |
| 2024-11-06 | Schmitz Jeffrey F (Officer) | Discretionary sale | 191 | $384.77 | $73K |
| 2024-11-06 | Schmitz Jeffrey F (Officer) | Discretionary sale | 496 | $388.32 | $193K |
| 2024-11-06 | Kogl Cristen L (Officer) | Discretionary sale | 522 | $390.00 | $204K |
| 2024-11-06 | Armstrong Robert John Jr (Officer) | Discretionary sale | 63 | $390.50 | $25K |
| 2024-11-06 | Armstrong Robert John Jr (Officer) | Discretionary sale | 851 | $393.32 | $335K |
| 2024-10-31 | Winters Nathan Andrew (CFO) | Discretionary sale | 485 | $381.29 | $185K |
| 2024-10-31 | Winters Nathan Andrew (CFO) | Discretionary sale | 1,352 | $381.89 | $516K |
| 2024-08-15 | Schmitz Jeffrey F (Officer) | Discretionary sale | 1,000 | $341.69 | $342K |
| 2024-05-14 | Cho Michael (Officer) | Discretionary sale | 384 | $320.45 | $123K |
| 2024-05-14 | Cho Michael (Officer) | Discretionary sale | 1,273 | $320.53 | $408K |
| 2024-02-23 | O'Sullivan Colleen M (Officer) | Discretionary sale | 135 | $279.36 | $38K |
| 2024-02-21 | Cho Michael (Officer) | Discretionary sale | 1,457 | $272.67 | $397K |
| 2024-02-21 | Schmitz Jeffrey F (Officer) | Discretionary sale | 1,000 | $272.00 | $272K |
| 2024-02-20 | White Joseph Ramsey (Officer) | Discretionary sale | 305 | $271.29 | $83K |
| 2024-02-20 | Armstrong Robert John Jr (Officer) | Discretionary sale | 556 | $270.00 | $150K |
| 2023-11-08 | Burns Bill (CEO) | Open-market buy | 1,219 | $205.00 | $250K |
| 2023-11-08 | Winters Nathan Andrew (CFO) | Open-market buy | 479 | $209.99 | $101K |
| 2023-08-10 | Modruson Frank Blaise (Director) | Open-market buy | 1,000 | $254.59 | $255K |
| 2023-08-07 | KEYSER RICHARD L (Director) | Open-market buy | 1,000 | $248.85 | $249K |
| 2023-08-07 | Burns Bill (CEO) | Open-market buy | 1,000 | $249.40 | $249K |
| 2023-08-04 | GUSTAFSSON ANDERS (Officer) | Open-market buy | 3,100 | $248.81 | $771K |
| 2023-08-03 | GUSTAFSSON ANDERS (Officer) | Open-market buy | 400 | $238.88 | $96K |
| 2023-08-03 | GUSTAFSSON ANDERS (Officer) | Open-market buy | 600 | $238.90 | $143K |
| 2023-02-24 | Cho Michael (Officer) | Discretionary sale | 1,600 | $292.38 | $468K |
| 2022-08-04 | Williams Stephen Edgar (Officer) | Discretionary sale | 102 | $328.75 | $34K |
| 2022-08-04 | Williams Stephen Edgar (Officer) | Discretionary sale | 208 | $328.58 | $68K |
| 2022-08-04 | Williams Stephen Edgar (Officer) | Discretionary sale | 2,021 | $328.48 | $664K |
| 2021-12-15 | ROBERTS JANICE M (Director) | Discretionary sale | 1,802 | $584.64 | $1.1M |
| 2021-12-13 | Modruson Frank Blaise (Director) | Discretionary sale | 2,000 | $605.44 | $1.2M |
| 2021-12-07 | Williams Stephen Edgar (Officer) | Discretionary sale | 910 | $605.08 | $551K |
| 2021-12-02 | Cho Michael (Officer) | Discretionary sale | 802 | $588.01 | $472K |
| 2021-11-19 | GUSTAFSSON ANDERS (CEO) | Discretionary sale | 4,000 | $603.59 | $2.4M |
| 2021-11-18 | GUSTAFSSON ANDERS (CEO) | Discretionary sale | 10K | $603.87 | $6M |
| 2021-11-18 | SMITH MICHAEL A (Director) | Discretionary sale | 2,000 | $604.39 | $1.2M |
| 2021-11-17 | SMITH MICHAEL A (Director) | Discretionary sale | 1,500 | $607.00 | $911K |
| 2021-11-10 | Williams Stephen Edgar (Officer) | Discretionary sale | 76 | $591.84 | $45K |
| 2021-09-08 | KEYSER RICHARD L (Director) | Discretionary sale | 5,000 | $579.28 | $2.9M |
| 2021-09-07 | KEYSER RICHARD L (Director) | Discretionary sale | 4,000 | $584.23 | $2.3M |
| 2021-08-31 | GUSTAFSSON ANDERS (CEO) | Discretionary sale | 8,500 | $587.04 | $5M |
| 2021-08-31 | Modruson Frank Blaise (Director) | Discretionary sale | 1,688 | $585.77 | $989K |
| 2021-08-30 | GUSTAFSSON ANDERS (CEO) | Discretionary sale | 6,500 | $590.04 | $3.8M |
| 2021-08-30 | MANIRE ROSS W (Director) | Discretionary sale | 5,000 | $587.74 | $2.9M |
| 2021-08-30 | Modruson Frank Blaise (Director) | Discretionary sale | 412 | $590.03 | $243K |
| 2021-08-23 | Burns Bill (Officer) | Discretionary sale | 2,000 | $579.15 | $1.2M |
| 2021-08-20 | Schmitz Jeffrey F (Officer) | Discretionary sale | 279 | $571.14 | $159K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.