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: Ciarfella Mark R (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-25	Class A Common Stock	M	653	—	Acquired	19324.9779	Direct
2021-02-25	Class A Common Stock	D	144	$250.51	Disposed	19180.9779	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-25	Restricted Stock Units	$	M	653	Disposed		Class A Common Stock (653)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (8377)	8377	Direct
Restricted Stock Units	$		Class A Common Stock (860)	860	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (13519)	13519	Direct
Restricted Stock Units	$		Class A Common Stock (1409)	1409	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (22758)	22758	Direct
Restricted Stock Units	$		Class A Common Stock (2079)	2079	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1960)	1960	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1960)	1960	Direct

Footnotes

F1: On February 25, 2021, 653 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Stock.

F2: Includes 88.1015 shares acquired through a dividend reinvestment plan.

F3: Shares withheld for payment of tax liability.

F4: These options vest in accordance with the following schedule: 8,377 vest on each of the first through fourth anniversaries of the grant date (March 6, 2017).

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: 859 vest on the first anniversary of the grant date and 860 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F7: These options vest in accordance with the following schedule: 6,759 vest on each of the first through third anniversaries of the grant date and 6,760 vest on the fourth anniversary of the grant date (March 6, 2018).

F8: These restricted stock units vest in accordance with the following schedule: 704 vest on each of the first and the third anniversaries of the grant date and 705 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).

F9: These options vest in accordance with the following schedule: 7,449 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: 692 vest on first anniversary of the grant date and 693 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).

F11: These restricted stock units vest in accordance with the following schedule: 653 vest on the first and second anniversaries of the grant date and 654 vest on the third anniversary of the grant date (February 25, 2020).

F12: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

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 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.