SBA COMMUNICATIONS CORP — Director's Dealing 2021

Mar 2, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2021-02-25

Reporting Person: Patel Dipan D (EVP Tech., Strat. & New Bus.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-25	Class A Common Stock	M	471	—	Acquired	903.3812	Direct
2021-02-25	Class A Common Stock	F	114	$250.51	Disposed	789.3812	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-25	Restricted Stock Units	$	M	471	Disposed		Class A Common Stock (471)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (20269)	20269	Direct
Restricted Stock Units	$		Class A Common Stock (1414)	1414	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1414)	1414	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1414)	1414	Direct

Footnotes

F1: On February 25, 2021, 471 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Includes 1.3812 shares acquired through a dividend reinvestment plan. Includes an aggregate of 85 shares acquired on August 31, 2020 and November 30, 2020 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.

F3: Shares withheld for payment of tax liability.

F4: These options vest in accordance with the following schedule: 5,067 vest on each of the first through third anniversaries of the grant date and 5,068 vest on the fourth anniversary of the grant date (March 6, 2019).

F5: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F6: These restricted stock units vest in accordance with the following schedule: 471 vest on each of the first through third anniversaries of the grant date and 472 vest on the fourth anniversary of the grant date (March 6, 2019).

F7: These restricted stock units vest in accordance with the following schedule: 471 vest on the first and second anniversaries of the grant date and 472 vest on the third anniversary of the grant date (February 25, 2020).

F8: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F9: 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.

F10: 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.