SBA COMMUNICATIONS CORP — Director's Dealing 2021

Mar 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2021-03-06

Reporting Person: SILBERSTEIN JASON V (EVP - Site Leasing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-06	Class A Common Stock	M	1290	—	Acquired	13954	Direct
2021-03-06	Class A Common Stock	M	1057	—	Acquired	15011	Direct
2021-03-06	Class A Common Stock	M	1037	—	Acquired	16048	Direct
2021-03-06	Class A Common Stock	F	866	$242.19	Disposed	15182	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-06	Restricted Stock Units	$	M	1290	Disposed		Class A Common Stock (1290)	Direct
2021-03-06	Restricted Stock Units	$	M	1057	Disposed		Class A Common Stock (1057)	Direct
2021-03-06	Restricted Stock Units	$	M	1037	Disposed		Class A Common Stock (1037)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (1035)	1035	Direct
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (50262)	50262	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (40556)	40556	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (44592)	44592	Direct
Restricted Stock Units	$		Class A Common Stock (1954)	1954	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2931)	2931	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2931)	2931	Direct
Restricted Stock Units	$		Class A Common Stock (2973)	2973	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2973)	2973	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2973)	2973	Direct

Footnotes

F1: On March 6, 2021, 1,290 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: On March 6, 2021, 1,057 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F3: On March 6, 2021, 1,037 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F4: Shares withheld for payment of tax liability.

F5: These options are immediately exercisable.

F6: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F7: These restricted stock units vest in accordance with the following schedule: 1,289 vest on the first anniversary of the grant date and 1,290 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F8: These options vest in accordance with the following schedule: 10,139 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).

F9: These restricted stock units vest in accordance with the following schedule: 1,056 vest on the first anniversary of the grant date and 1,057 vest on each of the second through fourth anniversaries of the grant date (March 6, 2018).

F10: These options vest in accordance with the following schedule: 11,148 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F11: These restricted stock units vest in accordance with the following schedule: 1,036 vest on first anniversary of the grant date and 1,037 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).

F12: These restricted stock units vest in accordance with the following schedule: 977 vest on each of the first through third anniversaries of the grant date (February 25, 2020).

F13: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F14: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F15: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F16: These restricted stock units vest in accordance with the following schedule: 991 vest on each of the first through third anniversaries of the grant date (March 4, 2021).

F17: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F18: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.