SBA COMMUNICATIONS CORP — Director's Dealing 2022

May 3, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2022-05-01

Reporting Person: RUSSO FIDELMA (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-01	Class A Common Stock	M	190	—	Acquired	284	Direct
2022-05-01	Class A Common Stock	M	206	—	Acquired	490	Direct
2022-05-01	Class A Common Stock	F	146.518	$347.11	Disposed	343.482	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-01	Restricted Stock Units	$	M	190	Disposed		Class A Common Stock (190)	Direct
2022-05-01	Restricted Stock Units	$	M	206	Disposed		Class A Common Stock (206)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$240.99	2030-01-01	Class A Common Stock (10000)	10000	Direct

Footnotes

F1: On May 1, 2022, 190 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.

F2: On May 1, 2022, 206 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.

F3: Share withheld for tax liability.

F4: These options vest in accordance with the following schedule: 2,000 vest on each of the first through fifth anniversaries of the grant date (January 1, 2020).

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: 190 vest on May 1, 2021; 190 vest on May 1, 2022; and 190 vest on May 1, 2023.

F7: These restricted stock units vest in accordance with the following schedule: 206 vest on May 1, 2022; 206 vest on May 1, 2023; and 207 vest on May 1, 2024.