SBA COMMUNICATIONS CORP — Director's Dealing 2021

Mar 9, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2021-03-04

Reporting Person: Cavanagh Brendan Thomas (Executive Vice President & CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-04	Restricted Stock Units	$	A	3872	Acquired		Class A Common Stock (3872)	Direct
2021-03-04	Performance Restricted Stock Units	$	A	3872	Acquired		Class A Common Stock (3872)	Direct
2021-03-04	Performance Restricted Stock Units	$	A	3872	Acquired		Class A Common Stock (3872)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	28492	Direct
Class A Common Stock	19049	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common (60163)	60163	Direct
Restricted Stock Units	$		Class A Common Stock (1544)	1544	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (50212)	50212	Direct
Restricted Stock Units	$		Class A Common Stock (2617)	2617	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (55741)	55741	Direct
Restricted Stock Units	$		Class A Common Stock (3888)	3888	Direct
Restricted Stock Units	$		Class A Common Stock (2442)	2442	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3663)	3663	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3663)	3663	Direct

Footnotes

F1: Reflects the transfer of 19,049 shares previously held directly by the Reporting Person to Cavanagh Investments, LLC in an exempt transaction.

F2: These shares are owned by Cavanagh Investments, LLC. The Reporting Person holds all voting and dispositive power for these shares. The Reporting Person disclaims beneficial ownership of the shares owned by Cavanagh Investments, LLC, except to the extent of his pecuniary interest therein.

F3: These options vest in accordance with the following schedule: 15,040 vest on the first anniversary of the grant date and 15,041 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F4: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F5: These restricted stock units vest in accordance with the following schedule: 1,543 vest on the first anniversary of the grant date and 1,544 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F6: These options vest in accordance with the following schedule: 12,553 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).

F7: These restricted stock units vest in accordance with the following schedule: 1,308 vest on each of the first and the third anniversaries of the grant date, and 1,309 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).

F8: These options vest in accordance with the following schedule: 13,935 vest on each of the first through third anniversaries of the grant date and 13,936 vest on the fourth anniversary of the grant date (March 6, 2019).

F9: These restricted stock units vest in accordance with the following schedule: 1,296 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F10: These restricted stock units vest in accordance with the following schedule: 1,221 vest on each of the first through third anniversaries of the grant date (February 25, 2020).

F11: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F12: 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.

F13: 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.

F14: These restricted stock units vest in accordance with the following schedule: 1,290 vest on the first anniversary of the grant date and 1,291 vests on each of the second and third anniversaries of the grant date (March 4, 2021).

F15: 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.

F16: 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.