SBA COMMUNICATIONS CORP — Director's Dealing 2023

May 31, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2023-05-25

Reporting Person: BERNSTEIN STEVEN E (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-25	Restricted Stock Units	$	A	743	Acquired		Class A Common Stock (743)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	10202.9432	Direct
Class A Common Stock	102390	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$132.00	2024-05-18	Class A Common Stock (1977)	1977	Direct
Stock Options (Right to Buy)	$157.51	2025-05-17	Class A Common Stock (1411)	1411	Direct
Stock Options (Right to Buy)	$212.31	2026-05-16	Class A Common Stock (1501)	1501	Direct
Restricted Stock Units	$		Class A Common Stock (207)	207	Direct
Restricted Stock Units	$		Class A Common Stock (350)	350	Direct

Footnotes

F1: These shares are held by Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

F2: These options are fully vested and exercisable.

F3: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F4: These restricted stock units vest in accordance with the following schedule: 206 vested on May 1, 2022; 206 vested on May 1, 2023; and 207 vest on May 1, 2024.

F5: These restricted stock units vest in accordance with the following schedule: 175 vested on May 1, 2023; 175 vest on May 1, 2024; and 175 vest on May 1, 2025.

F6: These restricted stock units vest in accordance with the following schedule: 247 vest on May 1, 2024; 248 vest on May 1, 2025; and 248 vest on May 1, 2026.