SBA COMMUNICATIONS CORP — Director's Dealing 2022

Mar 9, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2022-03-04

Reporting Person: Ciarfella Mark R (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-03-04	Class A Common Stock	M	676	—	Acquired	22486.3569	Direct
2022-03-06	Class A Common Stock	M	705	—	Acquired	23191.3569	Direct
2022-03-06	Class A Common Stock	M	693	—	Acquired	23884.3569	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-06	Restricted Stock Units	$	M	705	Disposed		Class A Common Stock (705)	Direct
2022-03-06	Restricted Stock Units	$	M	693	Disposed		Class A Common Stock (693)	Direct
2022-03-04	Restricted Stock Units	$	M	676	Disposed		Class A Common Stock (676)	Direct
2022-03-04	Restricted Stock Units	$	A	1831	Acquired		Class A Common Stock (1831)	Direct
2022-03-04	Performance Restricted Stock Units	$	A	1831	Acquired		Class A Common Stock (1831)	Direct
2022-03-04	Performance Restricted Stock Units	$	A	1831	Acquired		Class A Common Stock (1831)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (6760)	6760	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (16758)	16758	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
Performance Restricted Stock Units	$		Class A Common Stock (2030)	2030	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2030)	2030	Direct

Footnotes

F1: On March 4, 2022, 676 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Includes 72 shares acquired on February 28, 2022 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.

F3: On March 6, 2022, 705 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F4: On March 6, 2022, 693 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F5: These options are immediately exercisable.

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: 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).

F8: 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).

F9: 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).

F10: 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).

F11: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F12: 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.

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 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).

F15: 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.

F16: 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.

F17: 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).

F18: 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.

F19: 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.