SBA COMMUNICATIONS CORP — Director's Dealing 2022

Aug 5, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2022-08-05

Reporting Person: Ciarfella Mark R (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-08-05	Class A Common Stock	M	5760	$156.50	Acquired	29644.3569	Direct
2022-08-05	Class A Common Stock	S	5760	$343.94	Disposed	23884.3569	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-08-05	Stock Options (Right to Buy)	$156.50	M	5760	Disposed	2025-03-06	Class A Common Stock (5760)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (16758)	16758	Direct
Restricted Stock Units	$		Class A Common Stock (693)	693	Direct
Restricted Stock Units	$		Class A Common Stock (654)	654	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1960)	1960	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1960)	1960	Direct
Restricted Stock Units	$		Class A Common Stock (1354)	1354	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2030)	2030	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2030)	2030	Direct
Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $343.55 to $344.21 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

F2: These options are fully vested and exercisable.

F3: 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).

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: 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).

F6: 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).

F7: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F8: 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.

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 restricted stock units vest in accordance with the following schedule: 676 vest on the first anniversary of the grant date and 677 vest on each of the second and third anniversaries of the grant date (March 4, 2021).

F11: 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.

F12: 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.

F13: These restricted stock units vest in accordance with the following schedule: 610 vest on the first and second anniversary of the grant date and 611 vest on third anniversaries of the grant date (March 4, 2022).

F14: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, 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 March 4, 2025, 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.