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: BAGWELL KURT L (EVP; Pres. - International)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-25	Class A Common Stock	M	1285	—	Acquired	32234	Direct
2021-02-25	Class A Common Stock	F	283	$250.51	Disposed	31951	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-25	Restricted Stock Units	$	M	1285	Disposed		Class A Common Stock (1285)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	15530	Indirect
Class A Common Stock	26	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (17135)	17135	Direct
Restricted Stock Units	$		Class A Common Stock (1759)	1759	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (27037)	27037	Direct
Restricted Stock Units	$		Class A Common Stock (2818)	2818	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (44634)	44634	Direct
Restricted Stock Units	$		Class A Common Stock (4101)	4101	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct

Footnotes

F1: On February 25, 2021, 1,285 of the Reporting Person's restricted stock units were settled for an equal number of share of Class A Common Stock.

F2: Shares withheld for payment of tax liability.

F3: These shares are held by a limited liability company of which the Reporting Person is the sole manager and whose revocable trust is the sole member.

F4: The trust is for the benefit of one of the Reporting Person's children.

F5: These options vest in accordance with the following schedule: 17,135 vest on each of the first through fourth anniversaries of the grant date (March 6, 2017).

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: 1,758 vest on the first anniversary of the grant date and 1,759 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: 13,518 vest on each of the first and the third anniversaries of the grant date, and 13,519 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).

F9: These restricted stock units vest in accordance with the following schedule: 1,409 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).

F10: These options vest in accordance with the following schedule: 14,695 vest on each of the first through third anniversaries of the grant date and 14,696 vest on the fourth anniversary of the grant date (March 6, 2019).

F11: These restricted stock units vest in accordance with the following schedule: 1,366 vest on the first anniversary of the grant date and 1,367 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: 1,285 vest on the first and second anniversaries of the grant date and 1,286 vest on the third anniversary 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.