SBA COMMUNICATIONS CORP — Director's Dealing 2023

Mar 8, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2023-03-04

Reporting Person: Patel Dipan D (EVP Tech., Strat. & New Bus.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-04	Class A Common Stock	M	500	$0.00	Acquired	6174.6692	Direct
2023-03-06	Class A Common Stock	F	196.749	$260.35	Disposed	5977.9202	Direct
2023-03-04	Class A Common Stock	M	455	$0.00	Acquired	6432.9202	Direct
2023-03-06	Class A Common Stock	F	179.042	$260.35	Disposed	6253.8782	Direct
2023-03-06	Class A Common Stock	M	472	$0.00	Acquired	6725.8782	Direct
2023-03-06	Class A Common Stock	F	185.731	$260.35	Disposed	6540.1472	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-06	Restricted Stock Units	$	M	472	Disposed		Class A Common Stock (472)	Direct
2023-03-04	Restricted Stock Units	$	M	500	Disposed		Class A Common Stock (500)	Direct
2023-03-04	Restricted Stock Units	$	M	455	Disposed		Class A Common Stock (455)	Direct
2023-03-06	Restricted Stock Units	$	A	1595	Acquired		Class A Common Stock (1595)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	1595	Acquired		Class A Common Stock (1595)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	1595	Acquired		Class A Common Stock (1595)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (19173)	19173	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1499)	1499	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1499)	1499	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1365)	1365	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1365)	1365	Direct

Footnotes

F1: On March 4, 2023, 500 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Includes 45.267 shares acquired on February 28, 2023 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.

F3: Shares withheld for payment of tax liability.

F4: On March 4, 2023, 455 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F5: On March 6, 2023, 472 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F6: These options are fully vested and exercisable.

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

F8: These restricted stock units vest in accordance with the following schedule: 471 vest on each of the first through third anniversaries of the grant date and 472 vest on the fourth anniversary of the grant date (March 6, 2019).

F9: These restricted stock units vest in accordance with the following schedule: 499 vest on the first anniversary of the grant date and 500 vest on each of the second and third anniversaries of the grant date (March 4, 2021).

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 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: 455 vest on each of the first through 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.

F16: These restricted stock units vest in accordance with the following schedule: 531 vest on the first anniversary of the grant date and 532 vest on each of the second and third anniversaries of the grant date (March 6, 2023).

F17: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 6, 2026, 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 6, 2026, 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.