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: HUNT THOMAS P (Executive VP/General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-03-04	Class A Common Stock	M	1290	—	Acquired	119967	Direct
2022-03-06	Class A Common Stock	M	1409	—	Acquired	121376	Direct
2022-03-06	Class A Common Stock	M	1367	—	Acquired	122743	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-06	Restricted Stock Units	$	M	1409	Disposed		Class A Common Stock (1409)	Direct
2022-03-06	Restricted Stock Units	$	M	1367	Disposed		Class A Common Stock (1367)	Direct
2022-03-04	Restricted Stock Units	$	M	1290	Disposed		Class A Common Stock (1290)	Direct
2022-03-04	Restricted Stock Units	$	A	3413	Acquired		Class A Common Stock (3413)	Direct
2022-03-04	Performance Restricted Stock Units	$	A	3413	Acquired		Class A Common Stock (3413)	Direct
2022-03-04	Performance Restricted Stock Units	$	A	3413	Acquired		Class A Common Stock (3413)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (13519)	13519	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (29391)	29391	Direct
Restricted Stock Units	$		Class A Common Stock (1286)	1286	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3872)	3872	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3872)	3872	Direct

Footnotes

F1: On March 4, 2022, 1,290 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: On March 6, 2022, 1,409 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F3: On March 6, 2022, 1,367 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F4: These options are immediately exercisable.

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: 1,409 vest on each of the first through fourth anniversaries of the
grant date (March 6, 2018).

F7: 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).

F8: 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).

F9: 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).

F10: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F11: 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.

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 restricted stock units vest in accordance with the following schedule: 1,290 vest on the first anniversary of the grant date and 1,291 vest on each of the second and third anniversaries of the grant date (March 4, 2021).

F14: 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.

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 restricted stock units vest in accordance with the following schedule: 1,137 vest on the first anniversary of the grant date and 1,138 vest on each of the second and third anniversaries of the grant date (March 4, 2022).

F17: 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.

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.